WTI Oil Hits $71 - What's Next?

Monday July 3rd Plan

Friday Recap:

Crude Oil had an intraday high of 71.01 and a low of 69.50. The day's range was $1.51 and price achieved the higher time frame target of 70.90.

To get a piece of this intraday move, it required you to recognize that price continued to stay above the daily pivot as well as the fact that our 69.40/70.00 key levels had become supports.

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WTI 4 hour:

The accompanying chart once more demonstrates the location of the powerful 200 ema resistance, and it also makes evident that WTI is approaching its usual resistance levels.

The 70.90 level is an important level for Oil to hold now that it has been hit.

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Trade Plan!

• Continued buying above 69.40, long to the next levels:

- 70.00 , 70.90 , 71.65 , 72.50

• Strong selling below 70.90, short to the next supports:

- 70.00 , 69.40 , 68.50 , 67.50

• Daily pivot is 70.30.

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Thanks for making it this far, I hope to write to you again tomorrow.

Voila Trading