WTI Crude oil- Bullish Tendency
Updated
Oil was broadly stable on Wednesday as concerns about escalating hostilities in the Ukraine war potentially disrupting oil supply from Russia offset data showing rising U.S. crude stocks.
Generally, the direction is consolidation
Uptrend Side: Oil prices continue their upward momentum, with a clear path toward the initial target of $70.51. Exceeding this level is expected to further drive the upward trend, with the next key milestones set at $71.74 and subsequently $73.59.
Downtrend Side: This projected increase remains intact unless the price breaks below $68.64 and holds beneath it.
Tendency Keys: 70.51
Generally, the direction is consolidation
Uptrend Side: Oil prices continue their upward momentum, with a clear path toward the initial target of $70.51. Exceeding this level is expected to further drive the upward trend, with the next key milestones set at $71.74 and subsequently $73.59.
Downtrend Side: This projected increase remains intact unless the price breaks below $68.64 and holds beneath it.
Tendency Keys: 70.51
Trade active
The price of oil faced negative pressure yesterday, reaching the pivotal support level of $68.64 once again. The price needs to remain stable above this level for the upward trend scenario to remain valid in the upcoming period, with its initial targets starting with testing the $70.58 level. Also, still the price trades above $68.64.Trade closed: target reached
Target reached +100 pip profit
will fall to make a correction
Note
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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