WTI CRUDE OIL TRADE SETUP : BREAKOUT OR BREAKDOWN ?📊 Key Observations:
🔹 Trend:
🚀 Strong bullish move followed by a correction 📉
🔻 Price is testing a support zone
🔹 Pattern Formation:
📏 Descending channel or flag-like structure
📍 Price is near a breakout point
🔹 Trade Setup:
✅ Entry Zone: Around 70.77
🛑 Stop Loss: 70.44 - 70.49 (Risk limit ❌)
🎯 Target Point: 71.80 (Profit zone ✅)
🔹 Indicators & Confirmation:
📊 DEMA (9) at 70.92 → Price is slightly below short-term momentum
🔥 A breakout above resistance could confirm a bullish move 🚀
📌 Conclusion:
✅ If price breaks the trendline upwards → Buy 📈 aiming for 71.80 🎯
❌ If support at 70.44-70.49 fails → More downside possible ⚠️
🚀 Watch for volume & candlestick confirmation before entering!
Usoilbuy
USOIL EmotionINTRO USoil
WTI holds below $73.50 amid slow China demand, halted Libyan exports
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $73.30 on Tuesday. Slowing manufacturing activity in China in August exerts some selling pressure on the WTI price. However, supply concerns surrounding Libya's oil output might cap its downside.
Price Tag
Buy 69.5 to 68.5 SL 67
TP 72 >>> 75 >>> 78