WTI Oil (USOIL) is on the decline and is about to form a 1D Death Cross for the first time since September 06 2024! That is technically a bearish signal but last time once completed, the market formed a bottom 2 days later.
As a result, we expect a max drop to Support 1 ($60.05) but then more likely a rebound back to the Resistance ($71.40), especially given the fact that the 1D RSI will almost get oversold (>30.00).
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As a result, we expect a max drop to Support 1 ($60.05) but then more likely a rebound back to the Resistance ($71.40), especially given the fact that the 1D RSI will almost get oversold (>30.00).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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🤵Contact info@tradingshot.com t.me/tradingshot
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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.