WTI Crude Oil reversed upwards today as the RSI (1d) managed to stay over its MA. With the exception of April 3rd, every contact with the MA100 (1d) has been a sell signal since it first broke downwards on July 5th 2022. The long term trend remains bearish inside a Channel Down, so we will keep selling until it breaks.
Trading Plan: 1. Sell on either the MA50 or MA100 (1d).
Targets: 1. 67.15 (Support 1).
Tips: 1. The RSI (1d) is at a level symmetric to January 13th when again it was approaching the MA100 (1d) for rejection. That created a Neutral Zone inside the 0.5 and 0.1 Fibonacci levels that lasted for 3 months. We see similar lavels now. Use that to your advantage for buying low and selling high in the next weeks for as long as it lasts.
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