🛢️ Technical Overview (WTI Crude Oil – 4H)
📐 Pattern Formation:
A double bottom pattern is clearly forming, which is a classic bullish reversal structure.
The neckline appears to be just below the $59.00 area.
A breakout above this neckline would confirm the pattern and open the door for further upside.
🎯 Measured Move Projection:
The vertical projection shows a +7.89 USD target (around 12.49% upside).
Measured from the neckline (~$59.00), the projected target is around $66.90–$67.00.
🔍 Key Levels:
Support (bottom of the pattern): ~$56.00–$56.30
Neckline/Breakout level: ~$59.00
Target zone: ~$66.90–$67.00
Resistance on the way up: ~$61.00 and ~$64.50
🧠 Outlook & Bias:
Short- to Medium-term Bias: Bullish, contingent on a confirmed breakout above the $59 neckline.
A break and close above $59.00 would activate the pattern and favor a continuation toward $66.90.
If price fails to break out and falls back below ~$56.00, the pattern is invalidated.
📌 Potential Trade Setup (Educational Only):
Entry: Break and close above $59.00
Stop Loss: Below $57.50
TP1: $61.00
TP2: $64.50
TP3: $66.90
📐 Pattern Formation:
A double bottom pattern is clearly forming, which is a classic bullish reversal structure.
The neckline appears to be just below the $59.00 area.
A breakout above this neckline would confirm the pattern and open the door for further upside.
🎯 Measured Move Projection:
The vertical projection shows a +7.89 USD target (around 12.49% upside).
Measured from the neckline (~$59.00), the projected target is around $66.90–$67.00.
🔍 Key Levels:
Support (bottom of the pattern): ~$56.00–$56.30
Neckline/Breakout level: ~$59.00
Target zone: ~$66.90–$67.00
Resistance on the way up: ~$61.00 and ~$64.50
🧠 Outlook & Bias:
Short- to Medium-term Bias: Bullish, contingent on a confirmed breakout above the $59 neckline.
A break and close above $59.00 would activate the pattern and favor a continuation toward $66.90.
If price fails to break out and falls back below ~$56.00, the pattern is invalidated.
📌 Potential Trade Setup (Educational Only):
Entry: Break and close above $59.00
Stop Loss: Below $57.50
TP1: $61.00
TP2: $64.50
TP3: $66.90
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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.