US OIL WTI : Bullish - 2 Falling wedges + Head&Shoulders

US OIL WTI : Bullish - 2 Falling wedges + Head&Shoulders

Wti crude oil can rise higher because of current geopolitical tensions. OPEC countries have reduced their daily production of barrels of oil.

Technically:
The wolf of Zurich has detected 2 "Falling wedges" and an " inverse head & shoulders" .
These chartist patterns could raise the price of WTI oil around 96$-98$ and even up to 106$ ;

However a divergence with their ROC ( Rate fo Change ) has been detected and we could go back down to the levels indicated on the graph 81$- 79$- 73$ ,and then 67$ dollars.

To monitor EMA.50 and EMA.200 on different timesframes

be careful !
have a good day to all

Trade ist aktiv:

still valid