WTI Crude oil : The retest to rule them all! 10.5
Focus up!
100-101.50 is key retest level of support trend-line stretching back all the way to December 2021, with consistent higher lows.
At the same time, it's also a retest level of the second higher high breakout stretching back from the peak of 128.
China lock down is expected to ease within days, inflation is on the rise, EU oil ban for Russia is likely coming very soon.
An unlikely daily close below 100 could signal further downside to 97 though very unlikely with current fundamental/technical combo.
Do the math and keep the back noise out the picture, look only at key factors and act with caution and patience.
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Thank you so much for reading! If you found my idea useful, it would mean a lot for me if you like and follow!
It's a pleasure for me to help as many traders as possible master trading, so please ask me on the comments anything you'd like.
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100-101.50 is key retest level of support trend-line stretching back all the way to December 2021, with consistent higher lows.
At the same time, it's also a retest level of the second higher high breakout stretching back from the peak of 128.
China lock down is expected to ease within days, inflation is on the rise, EU oil ban for Russia is likely coming very soon.
An unlikely daily close below 100 could signal further downside to 97 though very unlikely with current fundamental/technical combo.
Do the math and keep the back noise out the picture, look only at key factors and act with caution and patience.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Thank you so much for reading! If you found my idea useful, it would mean a lot for me if you like and follow!
It's a pleasure for me to help as many traders as possible master trading, so please ask me on the comments anything you'd like.
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Trade active:
Retest confirmed as expected!
+$7 up in days.
108-09 is the level to pass before going for 114.
+$7 up in days.
108-09 is the level to pass before going for 114.
Trade active:
113.90 resistance was tested and reversed from!
Expect some range trading between $101 to $114 in the very short-term
Overall +$13 from the big retest! :)
Expect some range trading between $101 to $114 in the very short-term
Overall +$13 from the big retest! :)
Trade active:
Once again testing the high 114's resistance! A break above would confirm immediate potential to around 122-128
Trade closed: target reached:
$121 was reached at the highest point! huge +$13 catch in weeks
