WTI Light Crude Oil discussion
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WTI On the Hourly for WTI, it is in Neutral Market Bias from the Bullish & Bearish Trendlines (in red and green dotted lines) fanning out. Price action rallied earlier for a Hanging Man to show up at the top of the rally, signaling a reversal to the downside, which happened. Some consolidation created a S&R Zone and Inside Day for a market pause. Breakout from the Inside Day is either from the pattern's high at 72.421 or low at 71.871.
The last candle moving within the S&R Zone is a small Hammer, set to rally and likely get blocked by the Bearish Trendline (in red dotted line acting like a strong rope that held back 6 candles already) and then head down towards the low of the Inside Day at 71.871 for a breakout from the pattern.
A continued bear run can drop down from the S&R Zone to either retest the Zone or just drop more towards the Swing Lows of 71.376 and 71.174.
XTIUSD contract change so is the price follow new price or old price?investing.com show 70.33
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SPOTCRUDE Tapped in OB on 15min and it seems rejected. Opening a sell position with the SL above the last swing highSPOTCRUDE For educational purposes only! A sudden sharp move with three executive candles is the work of institutional activates. retail trader have limited ability due to limited capital to cause such move. Being patient to determined the purpose of the move (whether its a trap or genuine) will help to trade with the smart money.SPOTCRUDE Waiting to see if the FVG will hold it on 5min. if rejected, will open a sell position with SL right above itSPOTCRUDE This is not dropping, it's hopping downUSOILSPOT i think it will stay above 71 at closing
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