WTI How to Trade

The price bounces from support zone formed by 60.00 level and SMA100. RSI confirms price reversal. MACD histogram supports the upward movement. In order to be sure that the market is going to move upward, the price will have to break the downtrend line. Long trades can be opened based on the breakout signal. Stop orders should be placed below SMA100. The main profit target should be at 65.00 level. For confirmation the downward movement, the price will have to bounce from the downtrend line and drop below 58.00 support level. It will give us a solid trend reversal signal and new sell opportunities.