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What are your thoughts on CRUDE OIL?
WTI crude oil continues to trade within an ascending channel on the daily timeframe. Following the recent correction, price has reached the lower boundary of the channel, overlapping with the highlighted support zone around $87.50–$91.50, where we are now seeing a positive reaction and renewed buying pressure.
As long as this support zone holds, the bullish outlook remains valid. We expect price to consolidate around current levels before potentially resuming its upward movement toward the previous high near $105 and, subsequently, the upper boundary of the ascending channel.
A decisive break below the support zone and the lower boundary of the ascending channel would weaken the bullish structure and increase the risk of further downside.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
What are your thoughts on CRUDE OIL?
WTI crude oil continues to trade within an ascending channel on the daily timeframe. Following the recent correction, price has reached the lower boundary of the channel, overlapping with the highlighted support zone around $87.50–$91.50, where we are now seeing a positive reaction and renewed buying pressure.
As long as this support zone holds, the bullish outlook remains valid. We expect price to consolidate around current levels before potentially resuming its upward movement toward the previous high near $105 and, subsequently, the upper boundary of the ascending channel.
A decisive break below the support zone and the lower boundary of the ascending channel would weaken the bullish structure and increase the risk of further downside.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
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✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.