USOIL (WTI) Previous Resistance turning Support?
We all know WTI oil is bullish. It has been so since the violent bottom last December. The question is where it is better to buy?
Two scenarios:
1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice.
2. The 1D Channel Up pulls back and makes a Higher Low near the inner Higher Low Support (green line).
In both cases my TP is 65.00.
Two scenarios:
1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice.
2. The 1D Channel Up pulls back and makes a Higher Low near the inner Higher Low Support (green line).
In both cases my TP is 65.00.
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