Graphic art: WTI crude oil (USOIL) aims to resist a triangle?

WTI raw oil has been on tears recently, reinforced by Additional penalties for Russian oil.

But can you force the increasing commercial tensions on top of the triangle on the ceiling?

Check out the nearby reflection points that I see on the daily time frame.

If you missed, US President Trump is not good with Russian President Putin again because the latter did not completely play with Ukraine during the ceasefire.

For this reason, Trump threatened secondary definitions on Russian oil, which effectively prompted high energy prices and reducing global supply. However, wet raw oil has emerged over $ 70 a barrel earlier this week, and it may be restored to the levels of the nearby resistance.

How high is from here?

Remember that directional biases and fluctuations in the market price are usually driven by the basics. If you do not yet do that your homework Wti crude oil and US dollarThen it is time to check Economic evaluation And stay in knowledge Daily basic news!

The bulls can put crude oil on their eyes on resisting the descending triangles around the R2 ($ 76 a barrel) or at least to R1 ($ 73.67 a barrel) slightly higher than 200 SMA dynamic reflection points.

Continuous bullish momentum can stimulate a Triangle Top and Rally break to the following ups in R3 ($ 80.22 a barrel) and R4 ($ 84.42 a barrel).

Just be careful because SMA 100 is still less than 200 SMA to suggest that a less resistant path is the downside or that there is a good opportunity to resume the sale. In this case, look for moving to the bottom of the triangle near the axis point level ($ 69.46 a barrel) and S1 ($ 67.12 a barrel).

Also note that global trade tensions are still playing “liberation day” because the reprisal measures of American trading partners can overcome expectations of energy commodities such as crude oil.

Whatever the bias that end up to circulation, do not forget to train properly Risk Management And stay familiar with First degree incentives It can affect the morale of the comprehensive market!