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WTI Bullish Flag on 4H Time frame

May 03, 2018 12:49

The WTI has formed a bullish flag at W L4/M L3 confluence zone. The price might spike from the POC zone 66.70-67.30 towards 69.18. A 4h close or 1h momentum above 69.20 should provide a bullish flag breakout. If that happens targets are 70.23 and 70.67. Ideally for the WTI to remain bullish, the price should stay above 66.39 – Monthly L3 support.

Source: Admiral Markets MT5 with MT5SE Add-on

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 - Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

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This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.