WTI Crude Oil INTRADAY breakout level retest at 7045WTI Crude Oil maintains a bullish sentiment, supported by the prevailing uptrend. The recent intraday movement suggests a corrective pullback toward a key support zone.
Key Level: 70.45
This level represents the previous consolidation zone and now acts as a critical support area.
Bullish Scenario: If the price bounces from 70.45, it could resume its upward trend, targeting 72.27, followed by 72.71 and 73.46 over a longer timeframe.
Bearish Scenario: A confirmed break below 70.45 with a daily close under this level would weaken the bullish outlook, potentially leading to further declines toward 69.30 and 68.23.
Conclusion:
WTI Crude Oil remains bullish unless it loses support at 70.45. Traders should watch for either a bounce or a breakdown at this level to determine the next move.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
