Traders, there is possibly a new good trade coming your way! It is not XAUUSD it is not NASDAQ it is WTI Oil!
WTI has formed a falling wedge within the rising channel in the last six months. The falling wedge is usually considered a bullish technical setup and can lead to a bullish reversal since the Oil is in a falling trend for six months.
For us traders to be sure that the trend is changing and a falling wedge is broken, we need to see a clear confirmed break above 81. A clear confirmed break means a break above 81 with a full daily candlestick. In that case, you would be able to open a good risk to reward for a long trade.
Risk to reward should be good in this case and the probability for a good profit and an extension higher targeting 95 and even more. Stop loss should be below 76.
