By Admiral Markets
The WTI, went as planned as we could have seen in my previous analysis. Today we can see a rooftop pattern shaping up that is coming from W H1/ D H5 confluence, and it is being held slightly above D L3 camarilla pivot. We can see the rooftop shape an need to be ready if breakout happens. For positional trades watch for POC zone 57.60-57.85 where the price could reject after a retracement. Breakout below D L3 and 4h close below 57.24 should make a continuation move towards 56.78 (ATR projection low) and 56.21 D L5 level.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
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D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
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Article by Admiral Markets
Source: WTI Rooftop Pattern Continuation if D L3 Breaks
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