WTI How to Trade

The price reached the support zone formed by SMA100, the uptrend line and 66.00 support level. MACD supports further downward movement. DMI is bearish but ADX line falls and it tells us that bears are not so strong now. We can use a breakout below this support zone as a signal for opening short trades. Stop orders must be placed above 73.00 level and profit targets at 58.00 and 50.00 support levels.

Alternative variant: the price bounces from the support zone. RSI drops in the oversold zone and it can give a solid signal confirming the price reversal. Entry level can be above 68.80 level. Stop orders must be placed below the local swing low and profit targets at 73.00 level.

Kommentar:

The price breaks the support zone. We should be ready to see further falling.