As discussed in yesterday’s plan over @ Voila's Oil Trading (substack) why 69.40 key level will be delivering a strong push towards our 1st top of range target - 72.50.
WTI 4 hour:
WTI is pushing off 69.40 our intraday support.
This buying will need to sustain above the 69.77 daily pivot as we look for a definitive break of 70.35 today… towards the 72.50 major resistance.
We should only be minimizing long risk if price action is indicative of a 69.40 level break here. It’s not right now as the 4hr shows a 20 ema (red) trend holding.
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Trade Plan!
Continued buying above 69.40, long to the next levels:
- 70.35 , 71.70 , 72.50
Strong selling below 69.40, short to the next levels:
- 68.00
Daily pivot is 69.77
WTI 4 hour:
WTI is pushing off 69.40 our intraday support.
This buying will need to sustain above the 69.77 daily pivot as we look for a definitive break of 70.35 today… towards the 72.50 major resistance.
We should only be minimizing long risk if price action is indicative of a 69.40 level break here. It’s not right now as the 4hr shows a 20 ema (red) trend holding.
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Trade Plan!
Continued buying above 69.40, long to the next levels:
- 70.35 , 71.70 , 72.50
Strong selling below 69.40, short to the next levels:
- 68.00
Daily pivot is 69.77
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