WTI recently bounced from a key demand zone around 64–66, where price action showed strong bullish rejection following a sharp sell-off. This zone had previously acted as resistance and now flipped into support – a classic break-and-retest structure.
The bullish engulfing candle and follow-through confirm buyers are stepping in. The current structure suggests a shift in momentum after forming a higher low. As long as price remains above the 64–66 zone, upside targets come into focus.
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The bullish engulfing candle and follow-through confirm buyers are stepping in. The current structure suggests a shift in momentum after forming a higher low. As long as price remains above the 64–66 zone, upside targets come into focus.
🚀 Hit like if you find this analysis helpful, and don't hesitate to comment with your opinions, charts or any questions, I will respond :)
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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