Crude Oil (WTI) 2 Scenarios Explained 🛢️

19 May 2023

WTI Crude Oil is stuck between 2 solid structures.
Depending on the reaction of the price to these structures, I see 2 potential scenarios.

Bullish Scenario.
If the price breaks and closes above 74.3 resistance on a daily,
a bullish continuation will be expected to 76.57 level.

Bearish Scenario.
If the market drops and closes below 69.4 support,
a bearish movement will be expected to 65.0 level.

Wait for a breakout, it will show you the future direction of the market.

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