{"id":127804,"date":"2018-06-01T07:05:40","date_gmt":"2018-06-01T11:05:40","guid":{"rendered":"http:\/\/countingpips.com\/?p=127608"},"modified":"2018-06-01T07:05:40","modified_gmt":"2018-06-01T11:05:40","slug":"wti-horizontal-channel-congestion-prior-to-breakout","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/wti-horizontal-channel-congestion-prior-to-breakout\/","title":{"rendered":"WTI Horizontal Channel Congestion Prior to Breakout"},"content":{"rendered":"
June 1, 2018<\/div>
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By Admiral Markets<\/b><\/p>\n

\"WTI<\/a><\/p>\n

Source: Admiral Markets MT5<\/a> with MT5SE Add-on<\/a><\/em><\/p>\n

The WTI started a bearish move at the break of bullish wedge top and now it is trading within the horizontal channel. However, the price is currently below the EMA89 and MACD is below zero line so we might see another drop. 67.20-40 is the POC zone. Rejections from the zone should target 66.52 and 66.06. Below the channel targets are 65.28 and 64.37. However a spike above 67.55 will change the tide and targets are 67.93 and 68.70. This might likely happen on profit taking \u2013 if shorts start to close their positions today. Pay attention to the POC zone.<\/p>\n

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)<\/p>\n

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)<\/p>\n

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)<\/p>

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Free Reports:<\/p><\/div>\r\n

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<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

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<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

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D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)<\/p>\n

D L3 \u2013 Daily Camarilla Pivot (Daily Support)<\/p>\n

D L4 \u2013 Daily H4 Camarilla (Very Strong Daily Support)<\/p>\n

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)<\/p>\n

Best wishes,<\/p>\n

Nenad<\/p>\n

Follow Admiral Markets<\/a> on Facebook \u2013 @AdmiralMarkets<\/a> on Twitter \u2013 for the latest market updates.<\/p>\n

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks<\/a>.<\/p>\n

Article by Admiral Markets<\/b><\/p>\n

Source: WTI Horizontal Channel Congestion Prior to Breakout<\/a><\/p>\n

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Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Admiral Markets Source: Admiral Markets MT5 with MT5SE Add-on The WTI started a bearish move at the break of bullish wedge top and now it is trading within the horizontal channel. However, the price is currently below the EMA89 and MACD is below zero line so we might see another drop. 67.20-40 is the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-127804","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/127804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=127804"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/127804\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=127804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=127804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=127804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}