Crude Oil WTI
Usoil - Strong up movementPrice breaks the trend line strong and trying to break the first resistance to reach the second one which is seen more stronger than its counterpart.
As if now things looking good for those who took long position well before, for the new entries wait for the price to break and close above the first resistance for the target of second.
💡WTI . Weekly Technical Analysis UpdateMidterm forecast:
51.60 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 51.60 on 02/01/2021, so more gains to resistance(s) 63.10, 66.50, 72.55 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 79.
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