My Bearish Setup in Progress on WTI Crude Oil
WTI crude oil has been in a steady downtrend and recently formed a potential supply zone (purple area) around $69.50–$70.15, aligning with a key inefficiency.
Price action suggests a bearish reaction at this zone, with the potential for lower highs before a continuation to the downside.
Liquidity below $66.68 is the next probable target as sellers dominate the market.
The setup favors waiting for price to tap into the supply zone, showing clear rejection signs before executing shorts.
A break below recent lows would confirm bearish momentum, with further downside targets in the $65.50–$64.50 range.
Price action suggests a bearish reaction at this zone, with the potential for lower highs before a continuation to the downside.
Liquidity below $66.68 is the next probable target as sellers dominate the market.
The setup favors waiting for price to tap into the supply zone, showing clear rejection signs before executing shorts.
A break below recent lows would confirm bearish momentum, with further downside targets in the $65.50–$64.50 range.
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