OIL.WTI - Opportunity for short-term Long with trend

OIL.WTI - H4

Our expectations: Ascending long and short-term trend and price after correction to key levels of support. The levels are convenient for Long positioning immediately after opening at 03.05 or after correction to fill the gaps with SL: 69.90.

Alternative Scenario: If the price goes below the support zone and stays there, the positive scenario will be spoiled and more likely to see a WTI downgrade to test the long-term upward diagonal.

Comment: The price is in the long-term uptrend and after correction to a key level of support, formed by internal horizons, diagonal, 200SMA and 50% Fibonacci correction of the short-term trend. 50 and 200SMA are beached - the trend remains in place. CCI14 crosses -100 from bottom up - the likely end of the corrective wave.

Following threats to the US sanctions against Saudi Arabia and vice versa, the foundation also supports growth. We are waiting for news on both sides, while correcting and filling the gaff will provide a good opportunity for short-term Long Positioning. SL: 69.90.

Read more:

• Oil fundamental and inertia can push prices to new highs
• Goldman Sachs: “Gold is a better hedge than oil in current market conditions”
• Golden years for Gold
• The end-of-year gold rally continues at full speed
• Gold goes over $ 1,500, big players with estimates for the next year