WTI Crude Oil turned overbought on the 1D time-frame (RSI = 70.618, MACD = 2.330, ADX = 75.260) as it is extending its relentless rally inside a Channel Up pattern since the June 28th low. This 1 month uptrend is approaching the R1 (83.50), which is the High of April 12th and current Resistance. We are using this as a short-term buy opportunity (TP1 = 83.50). As long as the Channel Up holds, we will buy again upon a pull back (TP2 = 85.50). If the price crosses under the 4H MA100 though, it would mean the end of the bullish trend, and we will shor, targeting S1 (TP = 74.00).
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
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Free Channel: t.me/investingscopeofficial
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.