WTI OIL Higher Lows held. Strong rebound is expected.

Oct 22, 2024

WTI Oil (USOIL) is about to complete an Inverse Head and Shoulders (IH&S) pattern whose Head was right above the Higher Lows trend-line.

An imminent break above the 4H MA50 (blue trend-line) will confirm the start of the new Bullish Leg towards the Resistance Zone. Our Target remains 78.50.

Notice how the 4H RSI has already broken above its Lower Highs trend-line, as it did on the September 09 break-out.

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