WTI oil is traded in the bull market zone. Therefore, the decline to the support levels 69.02, 68.00, 66.35, 64.00 provides an opportunity to build up long positions.

Chart

A breakdown of the local resistance level 70.78 (the maximum of this week and month) will become a confirmation signal for further price growth.

Support levels: 70.00, 69.02, 68.00, 66.35, 64.00, 61.75, 60.61, 58.70, 56.00, 52.00.

Resistance levels: 70.78, 71.00, 73.00, 77.00.

Trading recommendations

Sell Stop 69.60. Stop-Loss 70.80. Take-Profit 69.02, 68.00, 66.35, 64.00, 61.75, 60.61, 58.70, 56.00, 52.00.

Buy Stop 70.80. Stop-Loss 69.60. Take-Profit 71.00, 72.00, 73.00, 77.00.

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