WTI Crude Oil is consolidating within a symmetrical triangle on the 4H chart, indicating a potential breakout is near. Price action is squeezing at the apex, and a bullish breakout above the resistance trendline may confirm a long setup.
Technical Analysis:
Triangle pattern formed after a strong bullish impulse
Price is holding higher lows, suggesting bullish pressure
Breakout above ~$66 could trigger momentum toward the target at $75.85
Strong volume on breakout would validate the move
Fundamental Drivers:
Market eyes supply concerns amid geopolitical tensions and OPEC+ production strategy
Recent inventory drawdowns and potential summer demand surge could support prices
📌 Trade Setup:
Entry: On breakout above $66
Target: $75.85 (measured move from triangle height)
Stop Loss: Below $61.49 support zone
📈 Wait for confirmation candle before entry. Manage risk carefully.
Note: If you found this helpful, like and follow for more trade ideas!
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This is not financial advice. Please conduct your own research and manage risk accordingly.
Technical Analysis:
Triangle pattern formed after a strong bullish impulse
Price is holding higher lows, suggesting bullish pressure
Breakout above ~$66 could trigger momentum toward the target at $75.85
Strong volume on breakout would validate the move
Fundamental Drivers:
Market eyes supply concerns amid geopolitical tensions and OPEC+ production strategy
Recent inventory drawdowns and potential summer demand surge could support prices
📌 Trade Setup:
Entry: On breakout above $66
Target: $75.85 (measured move from triangle height)
Stop Loss: Below $61.49 support zone
📈 Wait for confirmation candle before entry. Manage risk carefully.
Note: If you found this helpful, like and follow for more trade ideas!
Share My Idea With Your Firends Mention Your Feed back Comment Section
This is not financial advice. Please conduct your own research and manage risk accordingly.
For More Help
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Telegram @Signals_98
t.me/+HZOTWoeqVoo3M2Nk
Our Channel
t.me/+HZOTWoeqVoo3M2Nk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For More Help
Telegram @Signals_98
t.me/+HZOTWoeqVoo3M2Nk
Our Channel
t.me/+HZOTWoeqVoo3M2Nk
Telegram @Signals_98
t.me/+HZOTWoeqVoo3M2Nk
Our Channel
t.me/+HZOTWoeqVoo3M2Nk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.