WTI rolled over after failing near $68.66096 (top red dashed line). The breakdown through $66.40002 turned that level into resistance 🚧. After a sharp selloff, price is now hovering around the $65.54 area (thin entry line labeled 65.54232), just beneath the minor pivot band at 65.54 / 65.52 / 65.21 (green dashed cluster labeled 65.54232 • 65.52347 • 65.20824). The structure is lower-high → lower-low, which keeps momentum bearish while price holds below $66.40. If sellers keep control, the next magnet is the confluence support around $63.86661 (first lower green dashed line), with extension into $63.51000–$63.46746 if momentum accelerates.
You can also see repeated “S” tags on the push down from the high and into the mid-range, while the “B” tags cluster only at pullback lows—classic distribution behavior. Any spikes toward $66.07 (label 66.07275) and especially $66.40 should attract supply unless bulls reclaim and hold above that zone.
Trade setup 🎯 (from the chart):
• Entry: $65.54232 (≈ $65.54)
• Stop-loss: $66.07275 (≈ $66.07), conservative SL above $66.40002 if you prefer more room
• Targets: $63.86661 first take-profit; stretch targets $63.51000 → $63.46746
This offers a solid bearish R:R while price stays capped beneath $66.40. As it moves your way, book small profits 💰 at each objective, trail stops 🔒 (e.g., to $65.52 once under $65.21), and size the position to your own risk tolerance—WTI can spike on headlines.
Invalidation: A sustained reclaim and hold above $66.40 would neutralize the immediate bearish bias and open room back toward $68.66. Until then, the path of least resistance remains down 📉.
You can also see repeated “S” tags on the push down from the high and into the mid-range, while the “B” tags cluster only at pullback lows—classic distribution behavior. Any spikes toward $66.07 (label 66.07275) and especially $66.40 should attract supply unless bulls reclaim and hold above that zone.
Trade setup 🎯 (from the chart):
• Entry: $65.54232 (≈ $65.54)
• Stop-loss: $66.07275 (≈ $66.07), conservative SL above $66.40002 if you prefer more room
• Targets: $63.86661 first take-profit; stretch targets $63.51000 → $63.46746
This offers a solid bearish R:R while price stays capped beneath $66.40. As it moves your way, book small profits 💰 at each objective, trail stops 🔒 (e.g., to $65.52 once under $65.21), and size the position to your own risk tolerance—WTI can spike on headlines.
Invalidation: A sustained reclaim and hold above $66.40 would neutralize the immediate bearish bias and open room back toward $68.66. Until then, the path of least resistance remains down 📉.
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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.
Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
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.