CRUDE OIL (WTI): Technical Outlook & Trading Plan 🛢

https://www.tradingview.com/x/42KMero0/

Crude Oil is currently testing a solid horizontal supply area on a daily.

Analyzing a 4H time frame, we can spot that the market is currently weak & consolidating.
I see an example of a classic inside bar formation.

71.4 is the lower boundary of the range of the mother bar.
Its breakout - a 4h candle close below will be a strong bearish confirmation.

A bearish movement will be anticipated to 70.1 level then.

Alternatively, a bullish breakout of the underlined resistance will push the prices higher.

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