WTI CRUDE OIL Buy on this Falling Support. Sell below.

WTI Crude Oil hit the Falling Support, the 3rd time making contact with and turns into a short term buy. Target 89.75 (Resistance A at 89.80).

The medium term pattern is a Channel Up so id the Falling Support fails, take the small loss and wait for the bottom of the Channel Up to breaks. Sell and target 79.00 (1week MA50).

A bearish reversal is quite probable at the moment since the 4hour MACD is on a strong Bearish Cross.

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