US OIL Bullish Run Continues

29 dic 2022

WTI Crude Oil 1 HTF

Bullish Biases
1. Failed to make new LL
2. Strong Bullish C/S after
price rejection at last
LL and broke the ascending
trend line.
3. Strong support on 78.13
twice at Fib level 0.5 .
4. Continuation Pattern
Bullish Pennant yet another
indication of continuation of
bullish trend.
5. Bullish Divergence in RSI

WTI Crude Oil 1 HTF

Bearish Biases
1. After rejection the trend
bearish and started making
LHs & LLs
2. No significant Bearish C/S
found.
3. Strong ascending resistance
line still intact.


Trade Plan Buy-Long
EN: After breaching
ascending trend
line at 77.85
SL: 76.28 just above
Fib level 0.618
TP : 79.42 just above
Fib level 0.236

Trade Plan Going-Short
EN: After breaching
descending trend
line at 76.64
SL: 78.53 just above
Fib level 0.236
TP : 75.07 in view of
RRR 1 %