Home Daily Analysis Charts / Trade Ideas WTI Crude Bullish after Double Bottom

WTI Crude Bullish after Double Bottom

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WTI crude made a double bottom at $55 level; then it crossed the recent high made after the first of the bottoms ($56.4), then, it created another bullish candle. All indicators point to more upside.



A retracement to the $56.4 level may be expected, a rejection of this level might be a good point to load long positions: Also a breakout of the bullish candle top is a good place to go long. Invalidation level is below the low of this candle ($56). The next resistance level is $58.28.

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