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How To Make Money Today: WTI CRUDE OIL Daily Market Analysis and Forex Trading Signals 21 January 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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OIL: 

On the Weekly,  with price moving below the ichimoku cloud, we have a bearish bias that price will from from our 1st resistance at 86.51 which is in line with horizontal overlap resistance and 161.8% Fibonacci extension  to 1st  support at 77.47, which is in line with horizontal overlap support and  50% Fibonacci retracement level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 92.95, which coincides with horizontal swing high resistance and 127.2% Fibonacci extension. 

On the Daily,   with price respecting the stochastics resistance, we have a bearish bias that price will drop from our 1st resistance at 88.5 which is in line with horizontal swing high resistance  to 1st  support at 85.18, which is in line with horizontal overlap support and  23.6% Fibonacci retracement level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 92.14, which coincides with horizontal overlap resistance and 127.2% Fibonacci extension. 

On the H4,  with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 90.84 which is in line with horizontal swing high resistance and 127.2% Fibonacci extension level from 1st  support at 85.53, which is in line with horizontal overlap support and 32.8% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 79.75, which coincides with horizontal overlap support and 78.6% Fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st resistance of 90.84
  • H4 time frame, 1st support of 85.53
wti crude oil forecast

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