Crude Oil (WTI) is showing signs of a potential bearish reversal after forming a Double Top pattern near the $69.50 resistance level. The neckline break around $68.00 confirms the pattern and opens room for further downside. The key support zone is marked near $65.20, which also aligns with previous demand levels.
🔸 Pattern: Double Top
🔸 Trend: Short-term Bearish
🔸 Resistance: $69.47
🔸 Target: $65.21
🔸 Key Level to Watch: Break and close below $66.40
🔸 Fundamental View: Pressure from rising inventories and global demand concerns
Outlook: A confirmed breakdown may lead to accelerated selling toward the support zone. Bears may look for short opportunities below $68.00.
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This is not financial advice. Please conduct your own research and manage risk accordingly.
🔸 Pattern: Double Top
🔸 Trend: Short-term Bearish
🔸 Resistance: $69.47
🔸 Target: $65.21
🔸 Key Level to Watch: Break and close below $66.40
🔸 Fundamental View: Pressure from rising inventories and global demand concerns
Outlook: A confirmed breakdown may lead to accelerated selling toward the support zone. Bears may look for short opportunities below $68.00.
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.
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For More Help
Telegram @Signals_98
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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.