WTI Crude Eyeing Further Decline Amidst Bearish Pressure

WTI Crude Oil is exhibiting bearish momentum, with price action remaining below the 21, 50, and 200-period EMAs on the 4-hour chart. The recent downward trend is showing a potential setup for further decline, with the price currently around $74.29.

**Trading Strategy**:
- **Entry Point**: Consider a short position if the price continues to show weakness below the current EMAs, particularly if there's a rejection at the $75.40 resistance area.
- **Stop Loss**: A stop loss might be placed above the recent swing high or the nearest EMA to limit risk.
- **Take Profit**: Take profit levels could be set near the next significant support levels at $72.56 and $70.43, with further potential at $67.49.
- **Risk Management**: Keep the trade size within a reasonable percentage of your trading capital to manage risk effectively.


WTI's current stance below key EMAs and recent price action suggests a continuation of the bearish trend. Monitoring oil market news and inventory reports can provide additional cues to strengthen this trading idea.

Commento:

Don't hesitate to TP all at the final target.

Commento:

It will reach the final target today.