CRUDE OIL (WTI): Technical Outlook & Trading Plan 🛢
https://www.tradingview.com/x/42KMero0/
Crude Oil is currently testing a solid horizontal supply area on a daily.
Analyzing a 4H time frame, we can spot that the market is currently weak & consolidating.
I see an example of a classic inside bar formation.
71.4 is the lower boundary of the range of the mother bar.
Its breakout - a 4h candle close below will be a strong bearish confirmation.
A bearish movement will be anticipated to 70.1 level then.
Alternatively, a bullish breakout of the underlined resistance will push the prices higher.
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Crude Oil is currently testing a solid horizontal supply area on a daily.
Analyzing a 4H time frame, we can spot that the market is currently weak & consolidating.
I see an example of a classic inside bar formation.
71.4 is the lower boundary of the range of the mother bar.
Its breakout - a 4h candle close below will be a strong bearish confirmation.
A bearish movement will be anticipated to 70.1 level then.
Alternatively, a bullish breakout of the underlined resistance will push the prices higher.
❤️Please, support my work with like, thank you!❤️
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