WTI OIL Recent fractal calls for a buy towards $70.50.

WTI Oil (USOIL) is on the 3rd straight green 1D candle following a Double Bottom bounce on the 61.50 Support. At the same time the 1D RSI formed Higher Lows, which is a Bullish Divergence.

The same set of conditions emerged on the May 05 bottom rebound, which resulted into initially a 1D MA50 (blue trend-line) test and then a Resistance 2 contact.

As a result, we expect this rise to continue, targeting $70.50.

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