WTI Crude Oil at a Juncture
Two Possible Trades:
Scenarios and targets are illustrated on chart..
I will be updating with specific entry levels if materialized.. .
Good luck...
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- Resistance continues to hold, short trade
I will wait for a break below the low of the latest four-hour hanging man at 53.00 to initiate a short.
A break below the rising trend line may confirm the short scenario. - Resistance breaks, long trade
In this case we need at least a daily closing above that resistance. Minimum target for this scenario at 59.00
Scenarios and targets are illustrated on chart..
I will be updating with specific entry levels if materialized.. .
Good luck...
thefxchannel.com/ , visit.. vote and subscribe. Thank you
twitter.com/thefxchannel
My best regards
Technician
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