WTI is Trapped in a Range - Breakout is Possible

June 14, 2018 12:01

Source: Admiral Markets MT5 with MT5SE Add-on

After the breakout of the symmetrical triangle to the upside, the WTI has been consolidating in a tight range between pivot points, mainly D H3 and D L3. If the price closes above D H3 – 66.92 then 67.30 and 67.55 should be next, eventually followed by 67.93. Below D L3 66.18 we might see 65.80 followed by 65.17. Watch for volatility during the US session, later in the day.

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)

Best wishes,

Nenad

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