WTI, back at major order block support -- BOUNCE expected

WTI is currently sitting at below 0.5 FIB level on a weekly data -- a key area where most buyers converge.
$65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range.
A bounce is expected from current price range. Accumulation has notably started increasing at the present levels.
Spotted at 69.0
TAYOR.
Safeguard capital always.
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RELATED NEWS: Reuters
Oil prices settle more than 3% higher after China rate cut
By Stephanie Kelly
NEW YORK, June 13 (Reuters) - Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China's central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session.
The rate cut is aimed at adding momentum to a hesitant post-pandemic recovery in the world's second-largest economy and biggest crude importer.
Brent crude futures settled up $2.45, or 3.4%, to $74.29 a barrel. U.S. West Texas Intermediate (WTI) crude gained $2.30, or 3.4%, at $69.42 a barrel.
$65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range.
A bounce is expected from current price range. Accumulation has notably started increasing at the present levels.
Spotted at 69.0
TAYOR.
Safeguard capital always.
--------
RELATED NEWS: Reuters
Oil prices settle more than 3% higher after China rate cut
By Stephanie Kelly
NEW YORK, June 13 (Reuters) - Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China's central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session.
The rate cut is aimed at adding momentum to a hesitant post-pandemic recovery in the world's second-largest economy and biggest crude importer.
Brent crude futures settled up $2.45, or 3.4%, to $74.29 a barrel. U.S. West Texas Intermediate (WTI) crude gained $2.30, or 3.4%, at $69.42 a barrel.
トレード稼働中
Initial target will be 80 level.トレード稼働中
Accumulation still ON. Intended direction is certain: UP.トレード稼働中
70 level is firming up as the new base level for ascend.トレード稼働中
Ascend confidence, getting higher.トレード稼働中
weekend update:OIL is back at 80 levels -- long term trend shift is firm on its intended goal.
a 100 target will be not be far fetched. The possibility is getting higher.
トレード稼働中
Targets are by 10s, 90, 100, 110, 120.トレード稼働中
WTI has trim down gains -- which I think is necessary before another run up. A touch of the 86 level should be healthy for a new base for ascend.The probability of a break of previous resistance is still high -- after a much needed correction.
TAYOR.
トレード稼働中
A healthy correction has materialized way more than we expected. This is good for prospective entry to LONG.
I'll update again soon for a possible entry.
TAYOR.
トレード稼働中
Weekend update:OIL managed to bounce off a major support after correcting healthily into the 82 range.
For next week, an upside continuation will still be in play with possible retest of previous peak at 90 levels.
Congrats to those who got to ride this on a quick discount price.
TAYOR.
Happy weekend everyone.
トレード稼働中
anticipated movement/direction fulfilled.So far so good for OIL. Targets remain in tact: 3 digit valuation.
TAYOR.
トレード稼働中
I admit my inaccuracy on this one, my err. It went below the psychological line at 83.0 and went to further correct. The daily shift has more weight this time.トレード稼働中
Trying a new custom approach / visual chart.I'm waiting for a "V" shape bending red line for confirmation on the daily.
It's currently in progress... I'll post once we get that.
tvc-invdn-com.investing.com/data/tvc_60c6b77d0b0a2021ee9e641a4371dd58.png
TAYOR.
トレード稼働中
net buying is increasing -- with fundamental news: OPEC planned cuts in production.トレード稼働中
moving as planned from our 72.0 spot.トレード稼働中
Breakout.トレード稼働中
Moving based on expectation.トレード稼働中
4h double bottom has been registered today. First good sign for reversal to the upside.
TAYOR.
トレード稼働中
STRONG BUY.トレード稼働中
This is moving based on expectation.トレード稼働中
REITERATION: STRONG BUY.78.50
トレード稼働中
There ya go. Almost at 80 now.Further rise is expected.
HOLD.
トレード稼働中
So far so good.トレード稼働中
Moving based on expectationFurther price growth is expected.
トレード稼働中
Beautiful rise. More to go.Going as planned based our spot last June 19.0
Keep it burning.
TAYOR.
トレード稼働中
Moving perfectly now as expected.トレード稼働中
Inching closer to re-tapping 80 levels -- which we have expected to happen.More series of ascend awaits OIL.
TAYOR.
ノート
Congrats holders we're up by a massive 10 points.More higher prices ahead for OIL.
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免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。