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.
Dagangan aktif
Initial target will be 80 level.Dagangan aktif
Accumulation still ON. Intended direction is certain: UP.Dagangan aktif
70 level is firming up as the new base level for ascend.Dagangan aktif
Ascend confidence, getting higher.Dagangan aktif
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.
Dagangan aktif
Targets are by 10s, 90, 100, 110, 120.Dagangan aktif
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.
Dagangan aktif
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.
Dagangan aktif
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.
Dagangan aktif
anticipated movement/direction fulfilled.So far so good for OIL. Targets remain in tact: 3 digit valuation.
TAYOR.
Dagangan aktif
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.Dagangan aktif
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.
Dagangan aktif
net buying is increasing -- with fundamental news: OPEC planned cuts in production.Dagangan aktif
moving as planned from our 72.0 spot.Dagangan aktif
Breakout.Dagangan aktif
Moving based on expectation.Dagangan aktif
4h double bottom has been registered today. First good sign for reversal to the upside.
TAYOR.
Dagangan aktif
STRONG BUY.Dagangan aktif
This is moving based on expectation.Dagangan aktif
REITERATION: STRONG BUY.78.50
Dagangan aktif
There ya go. Almost at 80 now.Further rise is expected.
HOLD.
Dagangan aktif
So far so good.Dagangan aktif
Moving based on expectationFurther price growth is expected.
Dagangan aktif
Beautiful rise. More to go.Going as planned based our spot last June 19.0
Keep it burning.
TAYOR.
Dagangan aktif
Moving perfectly now as expected.Dagangan aktif
Inching closer to re-tapping 80 levels -- which we have expected to happen.More series of ascend awaits OIL.
TAYOR.
Nota
Congrats holders we're up by a massive 10 points.More higher prices ahead for OIL.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.