#MarketBreakdown
Pullback Trading Ӏ WTI CRUDE OIL
Weekly
Crude oil is approaching a major weekly
resistance.
65.5 - 66.5 area is a very important historical structure and was nicely respected in 2019/2020.
Daily
On a daily the market remains sharply
bullish.
The price is growing within a
rising parallel channel.
To catch a pullback, we must wait for a
breakout of a support line of the channel.
Only then a strong correctional move may initiate.
Remember that in case of a bullish breakout of the underlined resistance,
further bullish continuation will be expected.
