WTI or USOIL (XTIUSD): BUY analysis
We can see WTI price jumped up as our prognosis here: https://www.tradingview.com/chart/USOIL/IAB5FF0C-WTI-CRUDE-OIL-shortterm-forecast/
Now, what will be happen?
Price tested upper level on the chart and it will not stop here or it will continue its nonstop movement.
Hereby, WTI confirms own strenght. This is very gratifying occasion for us, because we love WTI trading.
So, today WTI broke up trend channel to upward. You will see on the chart. We need draw new channel for further explanation. OIL was moving between blue-green channel and it is entering to red trend channel. I marked these channels on the chart. It tries to create a new channel by choosing the correct entry point.
What is next level?
I think that, WTI will continue own movement until it reachs to 82.35. Because, this point is keypoint and strong level also. On the technical side, this is non-breaking level. But we think that this barrier can be broken, taking into account the volatility of the oil price (of course, if there is no strong fundamental or strategic news).
You can open a BUY operation by setting a stop loss. It is possible to set 82.30-82.35 as a target. Let's trade and see what will happen in the coming days.
Now, what will be happen?
Price tested upper level on the chart and it will not stop here or it will continue its nonstop movement.
Hereby, WTI confirms own strenght. This is very gratifying occasion for us, because we love WTI trading.
So, today WTI broke up trend channel to upward. You will see on the chart. We need draw new channel for further explanation. OIL was moving between blue-green channel and it is entering to red trend channel. I marked these channels on the chart. It tries to create a new channel by choosing the correct entry point.
What is next level?
I think that, WTI will continue own movement until it reachs to 82.35. Because, this point is keypoint and strong level also. On the technical side, this is non-breaking level. But we think that this barrier can be broken, taking into account the volatility of the oil price (of course, if there is no strong fundamental or strategic news).
You can open a BUY operation by setting a stop loss. It is possible to set 82.30-82.35 as a target. Let's trade and see what will happen in the coming days.
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