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USOILDailyBearish

WTI crude oil daily (SMC): sell the 89.00–91.30 zone

FXFibo editorial · · 1 min read
Summary

The daily structure in WTI crude oil is bearish: a bearish change of character (CHoCH) at 95.25, with price now around 85.71. The 89.00–91.30 area is the main sell zone.

BiasBearishEntry zone90.00Stop loss93.60Target 183.70Target 280.00StatusActive
Invalidation: Daily close above 93.59
WTI crude oil daily (SMC): sell the 89.00–91.30 zone

Main scenario

  • Entry zone: 89.00–91.30 (around 90.00)
  • Stop: 93.60
  • Targets: 83.70 and 80.00
  • Enter after candle confirmation or an aligned CHoCH on a lower timeframe

Alternative scenario

A daily close above 93.59 invalidates the main scenario and opens the way to 93.59.

Key levels

  • Resistance: 89.07, 91.32, 93.59
  • Support: 84.00, 83.70, 80.00

Market-moving events

  • Tue 10 Nov: US CPI
  • Thu 12 Nov: UK GDP and US jobless claims
  • Fri 13 Nov: US PPI and euro-area GDP
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⚠ This analysis is educational and is not a buy or sell recommendation. Trading financial markets carries the risk of losing capital.