WTI Crude Oil Bullish Breakout Setup – Targeting $65.80Chart 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
