WTI Oil Bounces Cleanly Off Key Support – Uptrend in the Making
⚪ WTI has firmly established an uptrend, with a breakthrough above the first supply zone while consistently respecting the uptrend trendline.
⚪ Notably, a recent rejection of the second supply zone took place. The positive aspect, though, is that after the breakout we witnessed a precise bounce off the 78.6% Fibonacci retracement support, indicating the uptrend's continuation.
⚪ This suggests that WTI might be on the brink of a substantial upward move. As a result, heading towards one of two Fibonacci resistance levels situated at $102 and $115.
As always, we are sharing our trade setup in the channel!
⚪ Notably, a recent rejection of the second supply zone took place. The positive aspect, though, is that after the breakout we witnessed a precise bounce off the 78.6% Fibonacci retracement support, indicating the uptrend's continuation.
⚪ This suggests that WTI might be on the brink of a substantial upward move. As a result, heading towards one of two Fibonacci resistance levels situated at $102 and $115.
As always, we are sharing our trade setup in the channel!
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Penafian
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