WTI with "sell" capabilities from current levels

WTI

Time frame: H4

Technical analysis: The chart shows that the price of oil is moving in a strong upward trend. After the price made a bottom at 54.80, she headed north, easily knocking 61.8% on Fibonacci, designed from the top to the bottom of last year's downward movement. The oil managed to record a peak at 64.80, then slightly corrected and headed north again. The price made a 2nd high, while the DeM and RSI indicators show the presence of divergence (slowing up the upward movement). At the same time, the price is at a strong diagonal resistance, which is an additional indication that the price could change its direction from here.

Indicators: The price is over 200 and 50 EMA, which play a role of strong support at this stage.

DeM and RSI show the presence of divergence that supports the "sell" scenario.

Entry into Deal: From current levels.

Alternative scenario: If the price can keep the current levels and break through strong diagonal support, then the price will continue its upward movement until the next significant resistance around 68.00

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