The breakdown of the resistance levels 69.50, 70.20 will be another confirming signal in favor of the resumption of long positions with targets at resistance levels 73.80, 76.43 (local multi-year highs and a maximum in a wave of growth from absolute lows near 3.42, reached during the collapse of prices in April 2020) (see also "Fundamental Analysis and Recommendations")
In an alternative scenario, a breakdown of the support level of 67.78 will be a signal to open short positions with targets near the key support level of 62.20. Further decline and a breakdown of the support level at 54.30 will bring WTI oil back to the bear market.
Trading recommendations
Sell Stop 66.90. Stop-Loss 69.60. Take-Profit 66.00, 64.90, 62.20, 61.75, 60.00, 59.22, 56.40, 54.30
Buy Stop 69.60. Stop-Loss 66.90. Take-Profit 70.20, 71.00, 72.00, 73.80, 75.00, 76.43
*) WTI: 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
