Despite the decline, WTI crude is traded in the bull market (see "Fundamental Analysis and Market Expectations")
. Above the resistance level 60.92, long positions will become relevant again, and a breakdown of the resistance level 63.75 will indicate a full recovery of long-term positive dynamics. After the breakdown of the local resistance level 68.00, the target will be the mark of $ 70.00 per barrel (the upper border of the rising channel on the daily chart).
Support levels: 58.60, 55.50, 53.87, 50.90, 49.00, 46.50, 45.00, 41.90
Resistance levels: 60.92, 63.75, 65.65, 68.00, 70.00
Trading recommendations
Sell Stop 59.50. Stop-Loss 61.40. Take-Profit 58.60, 55.50, 53.87, 50.90, 49.00, 46.50, 45.00, 41.90
Buy Stop 61.40. Stop-Loss 59.50. Take-Profit 63.75, 65.65, 68.00, 70.00
*) for trading, I choose THIS BROKER and use VPS (to receive a bonus, enter the promo code - zomro_17601)
**) WTI Oil: Current Fundamental Analysis and Market Expectations
***) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading
