🛢️ WTI Crude Oil (WTI3!) 4H Chart Analysis – May 5, 2025
🧠 Technical Snapshot:
Market Structure:
Clear downtrend from late April into early May.
Price recently found support at $54.38, a level that previously held as demand in early April.
Current Price Action:
Strong bullish reaction from the $54.38–54.16 zone.
Breakout attempt forming a higher low after retesting the lows, suggesting a potential bullish reversal or range play.
Trade Setup Observed:
Entry: ~$56.08
Stop-Loss: ~$54.17
Take-Profit: ~$63.50
Risk-to-Reward: ≈ 1:3.5 — excellent setup from a reward perspective.
🔍 Bias: Bullish (Short-term to Mid-term Reversal)
Why?
Price bounced from key support zone where price also previously reversed in early April.
Bullish engulfing candle suggests buyer interest.
Entry aligned with a potential double-bottom formation.
📍 Key Technical Levels:
Support:
$54.38 (Major swing low support)
$54.16 (Stop zone)
Resistance:
$63.50 (Major horizontal resistance zone)
Above $63.50 = Potential trend reversal confirmation
🔔 Strategy Suggestion:
A pullback entry toward $55.50–$56.00 may offer a better risk-adjusted entry.
Close partial profits near $60.00 if momentum slows before final TP.
🧠 Technical Snapshot:
Market Structure:
Clear downtrend from late April into early May.
Price recently found support at $54.38, a level that previously held as demand in early April.
Current Price Action:
Strong bullish reaction from the $54.38–54.16 zone.
Breakout attempt forming a higher low after retesting the lows, suggesting a potential bullish reversal or range play.
Trade Setup Observed:
Entry: ~$56.08
Stop-Loss: ~$54.17
Take-Profit: ~$63.50
Risk-to-Reward: ≈ 1:3.5 — excellent setup from a reward perspective.
🔍 Bias: Bullish (Short-term to Mid-term Reversal)
Why?
Price bounced from key support zone where price also previously reversed in early April.
Bullish engulfing candle suggests buyer interest.
Entry aligned with a potential double-bottom formation.
📍 Key Technical Levels:
Support:
$54.38 (Major swing low support)
$54.16 (Stop zone)
Resistance:
$63.50 (Major horizontal resistance zone)
Above $63.50 = Potential trend reversal confirmation
🔔 Strategy Suggestion:
A pullback entry toward $55.50–$56.00 may offer a better risk-adjusted entry.
Close partial profits near $60.00 if momentum slows before final TP.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.