Crude Oil Pin Bar + Dynamic Support Broken | July 30th
WTI Crude Oil – Downside Pressure Remains
After several attempts, the commodity broke the lows of the pin bar signal we discussed back on July 25th. In the process, it closed below the 20ema for the first time in over a month. Selling off for 6 of the last 8 days, it should find more downside targeting a key role reversal level at 102.21. Below this, 100 comes into sights. Traders can watch for intraday corrective pullbacks towards 103.80/90 area for price action sell signals, targeting the first and second aforementioned support levels.
Make sure to check out my latest article on Why We Close Winning Trades Early.
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