WTI Crude Oil Bullish Breakout Setup – Targeting $65.80

Chart Breakdown:

1. Trend Structure
📈 Uptrend Channel

Price is respecting a rising trendline.

Multiple touches (🟡 dots) confirm the trend is valid.

Higher highs and higher lows indicate bullish pressure.


2. Key Zones
🟦 Demand Zone: $62.19 – $62.36

Strong support area!

EMA 70 (📉 line) sits right in this zone – great confluence!

Likely bounce area.


🟥 Resistance Zone: (Broken!)

Price broke above the resistance – bullish signal!

Now acting as support (role reversal).


🎯 Target Point: $65.80

Located near key resistance area.

🎯 Take profit zone!


Trade Setup

🔹 Entry Point: $62.45
🔸 Stop Loss: $61.43 (below demand & EMA)
🎯 Target: $65.80

✅ Risk/Reward: ~3.3:1
Great reward potential compared to risk!

Indicators

📏 EMA 70: $62.19

Below price → supports bullish move.

Visual Summary:

🔵 Demand Zone
🔺 Entry Point
🟥 Stop Loss
🎯 Target Zone
🟡 Confirmed Trend Points
📈 Breakout Above Resistance