Hey, trader. Friday again. Hope you guys are ready for the weekend. Then, let's check the WTI chart quickly.
We can see 1. the descending channel 2. support on 85.000 and 81.500 3. resistance on 89.000 and 92.500
We should check Friday - Bristain GDP (MoM), German CPI (YoY) (Oct)
We can expect 1. the price keep rising to 92.500 by breaking resistance on 89.000 2. the price drops by resistance on 92.500
Yesterday, CPI made a big movement on the market. Nasdap had risen over 7% and dollar collapsed. By dollar dropping, WTI has chance to rise. We can have long postion strategy till 89.000 and if the price breaks the resistance on 89.000, we can have second chance to Buy till 92.500. Let's see if we can keep our Long position. (And, ready for the short position from 92.500)
Thank you for reading and hope this insight was helpful.