Crude Oil (1H timeframe)
broken out from its short-term downtrend channel and is now retesting key resistance near 5740.
Price is holding above the 5610 support, but upside is likely capped unless bulls sustain momentum.
🔹 Key Levels:
• Resistance: 5740 – 5770
• Support: 5610 → 5513
📊 Technical View & Trade Plan:
• Sell Zone: 5730 – 5770 (near trendline resistance)
• Stop Loss: Above 5800
• Target 1: 5610
• Target 2: 5513
💡 Next Scenario:
• If price breaks & sustains above 5800, bullish momentum could extend toward 5860 – 5900.
• If rejection happens at resistance, expect a pullback toward 5610 and possibly 5513.
Bias: Neutral to Bearish — waiting for price reaction at resistance to confirm the next move.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.