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China Reopening Arc - Commodities (WTIUSD) could rise further

Panjang
WTI Light Crude Oil (BLACKBULL:WTI)  
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BLACKBULL:WTI   WTI Light Crude Oil
Trend Analysis Chart Patterns
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trendanalysis chartpattern
  • The reopening of China could lead to increased demand and prices for commodities, oil, and certain currencies.
  • WTI crude oil, gold, and silver in the U.S. dollar market may be particularly affected.
  • Traders and investors should keep an eye on these developments and consider how they may impact their positions.

    On the technical side, we saw a false breakout to the downside. This bear trap could signal for further upside in the coming weeks.
Komen:
Re-establish a new bottom. Will take a long at 72.3 and stop loss at 70 instead
Komen:
WTIUSD continues to range between 72.5 to 81.0 price region. Will look for long trades at 72.5-73.0 and take profit at 81.
Penafian

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