WTI Oil Bounces Cleanly Off Key Support – Uptrend in the Making

⚪ WTI has firmly established an uptrend, with a breakthrough above the first supply zone while consistently respecting the uptrend trendline.

⚪ Notably, a recent rejection of the second supply zone took place. The positive aspect, though, is that after the breakout we witnessed a precise bounce off the 78.6% Fibonacci retracement support, indicating the uptrend's continuation.

⚪ This suggests that WTI might be on the brink of a substantial upward move. As a result, heading towards one of two Fibonacci resistance levels situated at $102 and $115.

As always, we are sharing our trade setup in the channel!