WTI Oil: Watching 99.20 for a long position

The price is retesting the main short term resistance level and neckline for a double bottom formation, which is also at the descending resistance for the bearish channel. A break above that resistance at 99.20 could clear the way for a retest of the 200-days SMA as an initial upside target currently at 100.25 areas. Remember, this is not confirmed yet, a break above 99.20 is required.

twitter.com/thefxchannel
thefxchannel.com