WTI CRUDE OIL Best sell position inside this 8 month pattern
WTI Crude Oil is approaching Resistance (1) at 83.50 after OPEC cuts.
The MA200 (1d) is almost there at 83.97 and has been untouched since August 30th.
The pattern is a Channel Up and its top is only a little over Resistance (1).
Trading Plan:
1. Sell on the current market price as the above three levels form the strongest Resistance Zone possible.
Targets:
1. 67.00 initially (Support 1).
Tips:
1. RSI (1d) is under a Rising Support. It is not quite there yet but the very first sign of sideways trading would be an indication of forming a top.
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Notes:
This is a continuation of this trading plan:
The MA200 (1d) is almost there at 83.97 and has been untouched since August 30th.
The pattern is a Channel Up and its top is only a little over Resistance (1).
Trading Plan:
1. Sell on the current market price as the above three levels form the strongest Resistance Zone possible.
Targets:
1. 67.00 initially (Support 1).
Tips:
1. RSI (1d) is under a Rising Support. It is not quite there yet but the very first sign of sideways trading would be an indication of forming a top.
Please like, follow and comment!!
Notes:
This is a continuation of this trading plan:
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