WTI Light Crude Oil

WTI Oil .. Is $86 in the Future ??

115
Possibly as we have two potential bullish patterns in play

1. A Bullish Butterfly pattern with targets of $78 and $86.
2. A Bullish Wolfe Wave with an $80 and $86 target

So how do we play this ??

I think we will have a chance for WTI to fall to a lower price, as the US election and economic uncertainty may push WTI's price lower. On the other side middle east tensions could escalate.

That said the $69-70 area would be decent purchase... better still at $66-67, as this has previously been a demand zone.

Momentum also looks positive and exhibits some divergence.

So If it happens then it happens.

I will watch and report back.

Not investment advice. Do your own due diligence

S.
Note
Getting closer.. still want bottom panel to uptick...

snapshot

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