WTI

The Commodity is forming a Bullish Engulfing Pattern(BEP). BEP is a short term candlestick pattern which suggests reversal. The failure rate of the pattern is ok, the bullish engulfing at the support can be a good trade to participate in.

The BEP has been formed at 200EMA which will act as support for the Commodity.

If the commodity closes above 64.28 we have an opportunity to enter long in the commodity and can expect a move till 67.20
Rsi and Macd has followed the price and is expected to do so.

Macd is trading negative below 0 any crossover here would be an extra signal of confirmation.

Advice : Buy only if the closing is above 64.28

Buying Opportunity

Aug 23 2021

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