CFD Petrolio WTILong
WTI Crude Oil Price Forecast
Aside from Crypto and Stocks, I also look at economical indicators, metals, and commodities.
I will be adding these to my ideas moving forward starting with the analysis on WTI Crude Oil price.
WTI Crude Oil was in a multi-year descending triangle, which it broke out of and retested the top of the trendline in August 2021. The price is on it's way upwards.
Something I learned from a trading mentor is when in doubt, zoom out and look left.
I took a fractal pattern from 2009-2013 which looks very similar to how the price is playing out currently and overlaid it in the current price range.
Furthermore, I added in the fib levels to see where we can be able to get to before some level of retracement. It seems that $95-$100 price range may be in the cards as the price may get to fib level 0.618 before a rejection.
I will keep the community updated on this.
What are your opinions on this? Comment below, hit the like and follow me. Thank you!
Check out more below for recent Altcoin, Bitcoin and Stock Ideas.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
I will be adding these to my ideas moving forward starting with the analysis on WTI Crude Oil price.
WTI Crude Oil was in a multi-year descending triangle, which it broke out of and retested the top of the trendline in August 2021. The price is on it's way upwards.
Something I learned from a trading mentor is when in doubt, zoom out and look left.
I took a fractal pattern from 2009-2013 which looks very similar to how the price is playing out currently and overlaid it in the current price range.
Furthermore, I added in the fib levels to see where we can be able to get to before some level of retracement. It seems that $95-$100 price range may be in the cards as the price may get to fib level 0.618 before a rejection.
I will keep the community updated on this.
What are your opinions on this? Comment below, hit the like and follow me. Thank you!
Check out more below for recent Altcoin, Bitcoin and Stock Ideas.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
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