Crude Oil (WTI) is showing signs of strength after respecting the support level near $60–62 and forming a clear demand zone. Price has been consolidating within a descending structure and is now attempting to push higher.
Key observations:
✅ Support level held strongly near $60.
✅ Multiple Change of Character (CHoCH) signals indicating momentum shift.
✅ A potential breakout above the descending triangle may open the path toward the $70–72 demand zone.
📈 If bullish momentum continues, next targets lie around $76–80 resistance area.
On the downside, a break below $60 would invalidate the bullish setup and expose a move toward $56–54.
This structure highlights a possible trend reversal from the bottom toward higher levels, as long as buyers maintain control above support.
This analysis is for educational purposes only. It is not financial advice. Please trade responsibly and manage your risk
Key observations:
✅ Support level held strongly near $60.
✅ Multiple Change of Character (CHoCH) signals indicating momentum shift.
✅ A potential breakout above the descending triangle may open the path toward the $70–72 demand zone.
📈 If bullish momentum continues, next targets lie around $76–80 resistance area.
On the downside, a break below $60 would invalidate the bullish setup and expose a move toward $56–54.
This structure highlights a possible trend reversal from the bottom toward higher levels, as long as buyers maintain control above support.
This analysis is for educational purposes only. It is not financial advice. Please trade responsibly and manage your risk
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$ FOREX / GOLD / BTC | Real Trades,Real Result | Risk-managed strategiesn &VIP Signal {My Personal Entries} Join Telegram _ Trade smater ||
📬 Join Free Channel:
t.me/profitmagnetpro12
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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.