• Vasily Trader

CRUDE OIL (WTI) Key Levels to Watch

Hey traders,

WTI Oil finally reached our goal.

What is next?

Here are the key levels for you to watch:

Resistance 1: 73.7 - 74.2

The price is approaching that area at the moment.

Being quite overbought, we might expect a pullback from that.

Next week I will look for a confirmation to short from there.

I will post the update if I see a nice setup.

Resistance 2: 76.3 - 77.0

The area is based on year's high.

In case of the bullish violation of Resistance 1, that will most likely be the next goal for buyers.

Support 1: 69.3 - 70.6

Our closest demand area.

Spotting that earlier we nicely predicted a bullish rally from that.

In case of its test in the future, we will look for pullback trades from there.