WTI (USOIL): Important Zone Just In Front Of Bulls

hey guys,

good day!!!

I have received very lovely comments after yesterday's post on gold
and many of you asked me to clarify the picture on WTI.

The first thing to consider is that we haven't seen a pullback for more than 1 month!
Slowly but surely bulls are still keeping pushing the market forward.

Yesterday the market has finally entered 64 - 67 decent supply zone
and we saw a strong rejection from it.

I believe that for many buyers it will be a profit-taking area so the chance to see a pullback is very high.
Pay close attention to the market within this area and try to catch a drop after a formation of some reversal pattern.


Talking about a long term perspective, the aforecited area is a decision zone for the market.
Being broken above it will expand the potential for buyers and continuation to 70 levels will be a highly likely scenario.

Being respected we can expect a reiteration of April's scenario.

I will post the update when I see a decent trading signal or change.

Please, like the idea and support it with like! Thank you :)