CRUDE OIL (WTI) Update & New Potential Opportunity

22 apr 2021

Hey traders,

I keep monitoring oil chart.
Based on my recent analysis, the price is currently retesting a strong daily structure cluster.
It looks like the market maker decided to push the price lower, invalidating my previous trading plan.

Now I am watching carefully a strong rising trend line on 1H chart.
Currently, we see a test of that trend line and local consolidation in a horizontal trading range.

61.2 is the last lower high.
I want to see a bullish breakout of that level (1H candle close above)
to buy the market.

Goals will be:
62.3
63.6

In case of a bearish breakout of a trend line,
I will look for shorting opportunities.

23 apr 2021

Nota

Check my new idea on AUDJPY: