Bullish WTIUSD - 22 September 2024

EURUSD Forex

Crude Oil

Bullish Closed

Charts by TradingView

A Price Action Ascending Triangle pattern formation on the 4 Hour time frame chart supports Crude Oil Bullish bias. A break of 72.360 will support the rise towards the target of 73.980 the break of 73.980 would push the price to 75.060.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 71.293
Support S1: 71.286, S2: 71.283 , S3: 71.276
Resistance R1: 71.296 , R2: 71.303 , R3: 71.306

Brokers

Open account

Summary

Instrument :

Crude Oil

Direction :

Bullish

Pattern Name :

Ascending Triangle

Probability :

50%

Entry Level :

72.360

Activation Time :

2024-09-20 18:00

Age :

271 Bars

Progress :

Close Time :

2024-09-22 22:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

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Ascending Triangle

An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trend line to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.