WTI Trading Tip: Do you know your Trading Personality? There are some sites online that can provide greater insight about your natural tendencies, strengths, and weaknesses as a trader.
Here's a good one to try that's fun and comprehensive. Just takes about 5 minutes to answer the questions and you'll know your trading personality. Go to traderpersonalitytests.com/
USOIL this is starting to look more like a W pattern finding support at 68.49. Watch how oil reacts around 68.97-69.05, if rejected oil will make a third leg to pivot at 68.62 and back up it goes again. But if it’s not rejected there is no coming back
WTI Back to the Hourly where I'm usually "perched". It is in Bearish Market Bias. A retrace to the upside is coming. The bulls can show up to retest or get close to retesting the Bullish Trendline (in green dotted line), then back down again.
Conservative Take Profits to the Downside: 67.935 - Start of S&R Zone 67.835 & 67.535 - Swing Lows
USOIL The United States' imposition of a 25% tariff on Venezuelan oil exporters has revived market concerns about the supply side, supporting a rebound in oil prices. However, downward global demand expectations have limited the upward range of oil prices, and oil prices are still within an oversold rebound range.