Mihai_Iacob

WTI- The ideal price to buy for 100 target

Long
FOREXCOM:USOIL   CFDs on Crude Oil (WTI)
The month of September came with a very important break for WTI Oil, the rise above 85 figure, a price that kept WTI in a range since December last year.
As was usually the case, after the break, the price accelerated to the upside and to the next important 92.50-93.00 zone resistance.
Looking at the posted chart we can see that since July, the trend for Oil is strongly up and a continuation is to be expected.
At this moment, the price is in a correction and this drop could offer traders a good opportunity to join the trend at better prices.
Technically, the old congestion under 87 and above 85 (yellow square) should offer support and a good zone to buy.
A reversal from this zone and back to 93 could lead to a break above the recent high and in this case, the road is clear for a test of 100 important psychological level.
The structure is strongly bullish as long as the price is above the old resistance at 83

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