False Breakout Play On WTI
Updated
Two key points on the daily chart:
1. Price made a relative high of 115.20 on March 23rd. Price haven't traded up to that level since.
2. In the recent days, price breached above the 115.20 level but quickly reverted. Since price failed to sustain above this level, I am anticipating a little bit of downside in the short run.
1. Price made a relative high of 115.20 on March 23rd. Price haven't traded up to that level since.
2. In the recent days, price breached above the 115.20 level but quickly reverted. Since price failed to sustain above this level, I am anticipating a little bit of downside in the short run.
Note
This move was rather short. Ended up being more like a scalp.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.