Crude Oil (WTI): up-channel in play

Trading News


US Oil Seems Undecided!

The price of oil was trading at 90.84 level at the time of writing. As you can see on the H1 chart, the rate is moving sideways in the short term. Technically, the price is trapped within an up-channel pattern and within a range between 85.90 and 97.37.

In the short term, WTI could continue to move sideways. Only escaping from these patterns could bring new trading opportunities.

Crude Oil Trading Conclusion!

Jumping above the 97.37 upside obstacle may announce further growth.

Dropping below the 85.90 downside obstacle could activate a deeper drop.

Trading analysis offered by Flex EA.