WTI Crude Oil Analysis: Key Levels and $65 Accumulation Strategy

Nov 19

The WTI Crude Oil chart highlights a long-term bearish trend, with price testing key support and resistance zones. Here's a concise breakdown:

Key Levels to Watch

• Support Levels: $65.00 (immediate), $61.52, $56.97, $55.00, $51.76, $42.87.
  
• Resistance Levels: $72.80, $78.44, $83.64, $93.40.
  

Current Opportunity for Swing Trade

• Accumulate near $65.00 with a stop-loss slightly below $65.00.
  
• Targets: $69.00, $72.80, $78.44.
  

Trade Setups

• Bullish: Enter on $65.00 support bounce or breakout above $72.80.
  
• Bearish: Short on rejection at $72.80 or breakdown below $65.00.
  

Market Outlook

• Bearish Bias: Break below $65.00 could lead to $61.52 or $56.97.
  
• Bullish Reversal: Break above $72.80 targets $78.44 and beyond.