WTI Insight

٢٨ أكتوبر ٢٠٢٢

Hey, traders. Friday has come. Hope you guys have a good weekend.
Today, we are going to check WTI chart. Let's see quickly.

We can see
1. long-term ascending channel has broken.
2. the price is in the short-term descending channel.
3. rebounding from the bottom support of the descending channel.

We should check
Friday - BoJ Monetary Policy Statement, German GDP (QoQ) (Q3), German CPI (YoY) (Oct), US Core PCE Price Index (MoM) (Sep), Pending Home Sales (MoM) (Sep)

We can expect
1. the price keep jumping up to 95.00 making asceding momentum.
2. the price drops by resistance on 90.00 to 75.00 which is bottom support.

WTI price had moved as we predict from last view.
We could have good trade from the bottom and top price in the chart.

For now, it's little confused if the price can break the resistance on 90.00. (buy for short-term)
If it breaks the 90.00, it will jump up to 95.00 while making ascending momentum.
But, on the ohter hand, if the price doesn't break the resistance on 90.00, we may get ready to have short position.

Let's see how it moves.
Thank you for reading and hope this insight was helpful.
We appreciate your boost and follow.