WTI CRUDE OIL Expecting a rebound on the MA200 (1d).

240
WTI Crude Oil has been declining rather sharply since September 28th and today's green (1d) candle should give way to a new low tomorrow.
Based on the (1d) RSI sequence, this fall resembles the fractals of November 2022 and April-May 2023.
Both rebounded to the 0.5 Fibonacci level after pricing their respective bottoms.

Trading Plan:
1. Sell on the current market price.
2. Buy at 78.15 (MA200 1d and a little over Support 1).

Targets:
1. 78.15 (MA200 1d and a little over Support 1).
2. 86.30 (Fibonacci 0.5 level).

Tips:
1. Both sequences traded sideways after bottoming for around 2 months. This will be an excellent scalping opportunity. Take advantage of it.

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Notes:
Past trading plan:

WTI CRUDE OIL Sharp correction to the MA50 (1d).

Penafian

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