WTI Uptrend is Intact While the Price is Above 61.50

Februar 20, 2018 13:39

Source: Admiral Markets MT5 with MT5SE add-on

The WTI is being held within the upward ascending channel trying to make a positive momentum push above 62.10. The POC zone 61.80-62.00 could reject the price towards 62.60, the confluence of W H3 / D H3 camarilla pivot. A 4h candle close above 62.60 will be needed for next possible targets 63.28 and 63.68. However if the price drops below 61.50, bears might get the upper hand and the price might get to 60.57 - W L3 camarilla pivot.

W H3 -Weekly Camarilla Pivot (Weekly Interim Resistance)

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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WTI Crude Oil Instrument