🚨 WTI CRUDE OIL: The recovery is struggling — sellers may get another chance!
$CL is showing a bearish structure on the 4H chart after falling sharply from 105.11 to 93.70.
Current price: 95.27
🔴 Short setup to watch:
Resistance: 95.64–96.00
Stronger resistance: 98.15
Key support: 93.70
Breakdown below 93.70 could open further downside.
📰 Market news: Oil prices have faced pressure amid developments around US–Iran peace talks and uncertainty over the US midterm elections. However, geopolitical supply risks remain, so volatility can be high
My approach: Waiting for a weak bounce and rejection near resistance before considering a short. No chasing after the drop.
⚠️ A strong reclaim above 98.15 would weaken the bearish setup.
Will sellers push $CL below 93.70?
#WTI #CrudeOil #trading #ShortSetup
$CL is showing a bearish structure on the 4H chart after falling sharply from 105.11 to 93.70.
Current price: 95.27
🔴 Short setup to watch:
Resistance: 95.64–96.00
Stronger resistance: 98.15
Key support: 93.70
Breakdown below 93.70 could open further downside.
📰 Market news: Oil prices have faced pressure amid developments around US–Iran peace talks and uncertainty over the US midterm elections. However, geopolitical supply risks remain, so volatility can be high
My approach: Waiting for a weak bounce and rejection near resistance before considering a short. No chasing after the drop.
⚠️ A strong reclaim above 98.15 would weaken the bearish setup.
Will sellers push $CL below 93.70?
#WTI #CrudeOil #trading #ShortSetup
