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WTI December Trend Lines Form the POC zone

January 09, 2018 12:11

The WTI is currently getting close to its December trend lines, and it might be either make it or break it. The POC zone ( Weekly camarilla pivot, D L4, 78.6) is sitting precisely between W H1 and W L1 levels, minor camarillas that usually provide a breakout direction on the instrument. 61.50-70 is the zone. If it rejects the zone, watch for a possible retest of 62.20 and 62.66. However, a drop below 61.50 should aim for 61.24, 60.24 and 60.36 if we see a bearish momentum and 4h close below W L3- 60.94.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

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

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