WTI Crude Oil (USOIL) – Bearish Reversal in Play | Channel Break
WTI Crude Oil recently broke down from a rising channel after testing a major resistance zone near $64. Price action suggests a potential bearish trend continuation, and we may be looking at a shift in momentum.
Technical Highlights:
Price respected the rising channel until mid-May, where it sharply reversed at key resistance.
The $64 zone acted as a historical resistance level, forming a double-top rejection area.
Bearish structure forming with lower highs and potential continuation toward lower support levels.
A projected downside target is marked around $55.35, a previously tested support level.
Trade Idea:
Potential Entry: On a retest and rejection near $63.50–$64.00 resistance
Bearish Confirmation: Lower high and break below $61.50 zone
Target: $55.35
Invalidation: Break and close above $64.50
Outlook:
Crude Oil is showing signs of exhaustion after a steady climb. A rejection from the upper resistance could trigger a multi-leg drop toward the $55 area if bearish momentum builds. Traders should watch for short-term consolidations or fakeouts around the $61–$62 level before committing to direction.
Technical Highlights:
Price respected the rising channel until mid-May, where it sharply reversed at key resistance.
The $64 zone acted as a historical resistance level, forming a double-top rejection area.
Bearish structure forming with lower highs and potential continuation toward lower support levels.
A projected downside target is marked around $55.35, a previously tested support level.
Trade Idea:
Potential Entry: On a retest and rejection near $63.50–$64.00 resistance
Bearish Confirmation: Lower high and break below $61.50 zone
Target: $55.35
Invalidation: Break and close above $64.50
Outlook:
Crude Oil is showing signs of exhaustion after a steady climb. A rejection from the upper resistance could trigger a multi-leg drop toward the $55 area if bearish momentum builds. Traders should watch for short-term consolidations or fakeouts around the $61–$62 level before committing to direction.
Dagangan aktif
Trade on $64.00 sell. 250.pips. profits guys. hold confirm target Nota
400 pips. activate hold guys. 
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