WTI OIL Volume Analysis

29 Apr 2019

hey traders,

wti is still in a clear uptrend.
and now the market is approaching multiple structure resistance levels looking left.

Take a look at volumes,
though on 11th of April we had a very calm trading day,
we see a selling volume spike.
Smart money started to sell and assets are changing hands.
Despite the fact that the market has made a new higher high,
we see one more selling volume spike.

Volumes do not confirm the uptrend anymore.
It is a warning sign for us.

Now, let's wait for a bearish breakout of a rising channel.
it is a very good confirmation signal.
60 and 58 are support levels for your targets.