CRUDE OIL (#WTI): Potential Scenarios Explained

CRUDE OIL (#WTI): Potential Scenarios Explained 🛢

⚠️WTI Oil is currently stuck on a key daily resistance.

Depending on the price reaction to that, I see 2 potential scenarios.

Bullish Scenario

If the market breaks and closes above 102.5 level on a daily,

it will confirm a breakout of the underlined resistance.

With a high probability, the market will continue rising then.

Bearish Scenario

I see an intraday consolidation on a 4H time frame.

A bearish breakout of its support and a 4H candle close below 100.2

will confirm a retracement.

As the oil market is heavily manipulated, both scenarios are possible.

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Daily/4H time frames