CRUDE OIL (WTI) STRUCTURE ANALYSIS

5 thg 5, 2020

hey guys,

crude keeps growing steadily!

the price has easily gone through 18.5 - 20.5 resistance and now it turned to support.

our next key daily resistance is 28.6 - 30.6 zone.
look for a reversal formation within this area to short.

in case of a further bullish continuation, the second resistance will be 34.0 - 36.0 area.
if this zone will be reached, the previously mentioned resistance will turn to support as well.

the safest trading is always done on key levels.
so pay attention to the price action when any of the key zones are reached.

good luck!