WTI Crude Oil, Technical Analysis – H4
Oil remains in a clear and undisputed downtrend. However, an unfilled gap around $84.20 may act as a catalyst for a corrective bounce.
Oil remains in a clear and undisputed downtrend. However, an unfilled gap around $84.20 may act as a catalyst for a corrective bounce. The key resistance level that would validate such a correction is $70.00.
Key Levels:
□ $70.00 – key resistance
□ $84.20 – unfilled gap zone
Primary Scenario:
Consolidation and hold above $70.00, potentially leading to an upward reversal.
Alternative Scenario:
Consolidation below $70.00, signaling continued bullish weakness.
Analyst Commentary:
The optimal trading approach is to closely monitor the market’s reaction at the $70.00 level.
Николай Криштопов — рыночный аналитик Investizo с более чем 15-летним опытом работы в индустрии финансовых рынков и более чем десятилетним опытом трейдинга. В сферу его интересов входят валютный и криптовалютный рынки, технический анализ, внутридневная торговля и поведение рынка.