WTI Crude Oil reversed upwards today as the RSI (1d) managed to stay over its MA.
With the exception of April 3rd, every contact with the MA100 (1d) has been a sell signal since it first broke downwards on July 5th 2022.
The long term trend remains bearish inside a Channel Down, so we will keep selling until it breaks.
Trading Plan:
1. Sell on either the MA50 or MA100 (1d).
Targets:
1. 67.15 (Support 1).
Tips:
1. The RSI (1d) is at a level symmetric to January 13th when again it was approaching the MA100 (1d) for rejection. That created a Neutral Zone inside the 0.5 and 0.1 Fibonacci levels that lasted for 3 months. We see similar lavels now. Use that to your advantage for buying low and selling high in the next weeks for as long as it lasts.
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Notes:
Past trading plan:
With the exception of April 3rd, every contact with the MA100 (1d) has been a sell signal since it first broke downwards on July 5th 2022.
The long term trend remains bearish inside a Channel Down, so we will keep selling until it breaks.
Trading Plan:
1. Sell on either the MA50 or MA100 (1d).
Targets:
1. 67.15 (Support 1).
Tips:
1. The RSI (1d) is at a level symmetric to January 13th when again it was approaching the MA100 (1d) for rejection. That created a Neutral Zone inside the 0.5 and 0.1 Fibonacci levels that lasted for 3 months. We see similar lavels now. Use that to your advantage for buying low and selling high in the next weeks for as long as it lasts.
Please like, follow and comment!!
Notes:
Past trading plan:
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