WTI Crude Oil is trading within a Channel Up on the 4H chart (RSI = 36.632, MACD = 0.170, ADX = 31.347). The MACD turned flat and as you see on the chart that has been a signal of a top formation on three previous occasions. In two of them the price dropped a little more than -11% and on the other around -15.50%. The Symmetrical Support zone that held on three occasions since June 16th is 37.50 - 37.00. It is possible to see the price rebound either there or a little earlier on the 4H MA200.
** If you like our free content follow our profile to get more daily ideas. **
Comments and likes are greatly appreciated.