CRUDE OIL (WTI) Key Levels to Watch 🛢
Updated
For the last three weeks, WTI Crude Oil is very bearish.
Recently the price broke and closed below a strong rising trend line and now is approaching strong horizontal support.
Here are key levels for you to watch for oil trading:
Support 1: 93.2 - 95.0 area.
Support 2: 86.6 - 89.7 area.
Support 3: 72.5 - 75.3 area.
Resistance: vertical trend line.
Resistance 1: 106.9 - 109.0.
Resistance 2: 114.3 - 116.7.
Breakout of one of those will trigger a bullish/bearish continuation to the next structure.
While a test and confirmation may give you a counter-trend/trend-following trade.
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