• Vasily Trader

CRUDE OIL (WTI) Weekly Time Frame & Key Levels (Structure Analysis)

hey traders,

just 12 hours until weekly candle closes on 🟢WTI.

it looks like the market will close above key weekly resistance (very strong bullish clue).

I am already bullish biased.

Here are the next key levels to pay attention to:

Resistance 1 - 50.5 - 55.0 area is based on price action from 2015'th

Resistance 2 - 63.0 - 66.5 area is based on 2019's highs

Support 1 - 42.0 - 43.5 area. I will look for a pullback to buy from that.

Key levels serve as the goal for buyers/sellers and give the safest entry points.