WTI Crude Oil has made a break above the June Channel Down but still this isn't a long-term signal to buy. The key here is the 1D MA100, which has been keeping the price below it since July 05. If it breaks, we will target the 97.65 Resistance. Then the 1D MA200 will decide if we enter the bullish trend on the long-term again, or pull back towards the bottom of a newly formed blue Channel Up.
A break below that Channel would keep the long-term bearish trend intact, targeting the 76.20 Support. Best signal to sell this would be the STOCH RSI making a Sell Cross.
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A break below that Channel would keep the long-term bearish trend intact, targeting the 76.20 Support. Best signal to sell this would be the STOCH RSI making a Sell Cross.
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I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
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Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
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