The Commodity is trading in a range near the Resistance Zone. The Commodity is consolidating between 114-92, we need to wait for the Commodity to break beyond this level, if the Commodity is able to break on either side, following are the conditions which need to be followed.

If the breakout is on the upside the Commodity has to close above 114, wait for one candle to close above this level, if it is able to close above the mentioned level start buying.

If the RSI is trading above 73 ignore the breakout.

If the breakout is on the downside the Pair has to close below 92 levels, wait for one candle to close below the level, if it is able to close below the mentioned level start selling.

WTI

Apr 30 2022