WTI Upmove if the POC Zone Holds
The WTI is neutral to bullish and we could see a bounce if the POC zone holds. At this point the Oil is supported above the POC zone 56.00-50.
A bounce above the POC zone should target 57.80 and 58.40. If the price proceeds above 58.40 then the next target is 58.90. However, a close below 56.20 should instigate a bearish momentum towards 56.00 and 54.50. Have in mind that the Oil is neutral to bullish, but the POC zone needs to hold in order for the price to proceed further up.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX