WTI Crude Oil is approaching Resistance (1) at 83.50 after OPEC cuts. The MA200 (1d) is almost there at 83.97 and has been untouched since August 30th. The pattern is a Channel Up and its top is only a little over Resistance (1).
Trading Plan: 1. Sell on the current market price as the above three levels form the strongest Resistance Zone possible.
Targets: 1. 67.00 initially (Support 1).
Tips: 1. RSI (1d) is under a Rising Support. It is not quite there yet but the very first sign of sideways trading would be an indication of forming a top.
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Notes: This is a continuation of this trading plan: