WTI Crude Oil Technical Analysis And Trade Idea
We have published a detailed analysis on Monday.
The fundamental side is mixed. Iran Nuclear Agreement in May might be the determining factor in Crude Oil Prices.
On the Technical side, the price is above the EMA 50. However, H4 chart indicators and oscillators started to send bearish signals.
We have a bearish flag formation. If the price breaks below 62.50 support, 62.20 -62.00 interval will be the key levels.
Break and H4 closing below 62.20, would validate the bearish flag pattern. The target of the formation is 58-40-58.20. This level is one of the historical levels as well.
Price reached our first target. We have published a bullish pattern for premium members. We will be following our bullish bat pattern for the retracement.
We will keep updated the premium members as soon as the pattern is validated.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
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