The price on WTI crude oil currently very high. This based on the fact that price is at the profit taking zone between monthly M4 @ 57.4350 and monthly R2 @ 58.3600. Based on this I anticipate that price could fall because of traders closing their long position, But because for increasing demand due to world wide growth price could bounce back up again and target monthly R3 @ 61.960. Buy at 54.7100 which is 54.7100

WTI CRUDE Daily

55 and 21 are not flat and large angle of separation. Trending market. Price currently at profit taking zone. Anticipate price to drop to MM3 for role reversal.

WTI CRUDE H4

55 and 21 are also not flat on the H4 chart therefore trending market with price currently being bullish. Price is also at profit taking zone.

WTI CRUDE H1

Again as with the daily and H4 chart price is at the profit taking according to pivot point theory. 21 55 not flate trending market.

WTI CRUDE M15

Market is trending and is at the profit taking zone. There could also potential be a good short term trade with a short position. Then buy at 54.7100

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