WTI reaches a new high.
As long as we trade above $40.89, we expect higher prices, without further detours. The next goal for the hungry bulls is the region around the 161.8% Extension at $49. After a short correction, which will give us another opportunity for re-entry, we see the bulls passing area 51 and leaving for prices in the $56 region. We are Long since $42.60 and hold on to our position. WTI needs to exceed $44.08 to unlock prices in the $50 range. It is essential that the price will not fall below $40.89 and, ultimately, $39.53 to continue the current upward movement. Below these 2 support lines is bearish territory.
Feel free to comment and discuss!
Happy trading!
As long as we trade above $40.89, we expect higher prices, without further detours. The next goal for the hungry bulls is the region around the 161.8% Extension at $49. After a short correction, which will give us another opportunity for re-entry, we see the bulls passing area 51 and leaving for prices in the $56 region. We are Long since $42.60 and hold on to our position. WTI needs to exceed $44.08 to unlock prices in the $50 range. It is essential that the price will not fall below $40.89 and, ultimately, $39.53 to continue the current upward movement. Below these 2 support lines is bearish territory.
Feel free to comment and discuss!
Happy trading!
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