WTI CRUDE OIL Approaching the 3month buy zone

Feb 22, 2023

WTI Crude Oil got rejected on Resistance Zone 1 and is now about to enter Support Zone 1.
This is a Buy Zone that has only been breached once in the last 3 months (since November 28th).
The only breach that took place formed Support 2.

Trading Plan:
1. Buy upon entering Support Zone 1.
2. Buy at 70.50 (slightly above Support 2).

Targets:
1. 80.50 (slightly below Resistance Zone 1).
2. 77.50 (slightly below Mid-level structure that was the first stop of the December 9th rise).

Tips:
1. The MACD 4H has also a very clear Support and Resistance Zone. It is not yet near the Support Zone, which gives more probabilities to the price approaching Support 2 before a rebound. keep an eye if it reverses earlier.

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