CFDs on Crude Oil (WTI) forum
Breakout from the Inside Day can be either at its low of 64.35 or high at 67.70 (shown as two, horizontal lines).
The bears are in Oversold Territory, so a retrace is coming. If a Hammer shows up at the bottom of a descent, it usually indicates that the market is Oversold.
*Take Profit Projections to the Upside:
67.70 - High of Inside Day
70.88 - Retracement Level Through Mean Reversion
71.47 - Midline of Monday's Tall Bearish Candle
