About this blog
Hello community, I am new to the forum and would like to share my view of WTI future contract . 🙂
- We are currently monitoring H4 chart showing us Cup and Handle breakout as expected. (chart N.1)
- Volume and trend favor the bull admit this week massive unexpected draw along with Iran and ATH indices.
- Next positional TP for bull is 63.22 - 63.74 ( 0.786 & 0.618 fib)
- Triangle was formed on top of bull pole holding 0.236 fib (from 60.92 to 59.92) ; Breakout zone is 60.53 which will allow us to go to 63.22 -63.74 (chart N2)
- Stop loss is set at yesterday low point of head-fake 59.90
- Energy equity also showing us bullish divergence with indices surge. ( I can smell the short squeeze on this sector very soon since they remain pressurize to the downside on very low volume)
Chart 1 (H4) : https://www.tradingview.com/x/TGz5rqtV/
Chart 2 (M45) : https://www.tradingview.com/x/FCzeW710/
In brief, long 60.2 with SL 59.9 . TP 63.5
For new long buy is 60.55 breakout same TP as above .
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