FX.co ★ Imran9 | CL/Crude Oil

*Technical Analysis - WTI Crude Oil CFDs 4H Chart - TVC* *Price Action* Chart shows USOIL on 4H timeframe. Current price 74.03, down 0.04 (-0.05%). From June 1, oil peaked at 96.00 then dropped to 80.00 by June 14. Breakdown below 80.00 accelerated to 72.50 by June 18. Since June 18, price formed a base: support at 72.50-73.00 and resistance at dotted line ∼74.50. Last 4 candles show consolidation under 74.50 with price at 74.03. Structure shows lower highs 78.00 → 76.00 → 74.50 = descending triangle. 4H close above 74.50 opens 76.00 → 78.00. 4H close below 73.00 breaks base and targets 72.50 → 71.00. Major trend since June 1 is down. Short-term since June 18 is neutral with compression. *Volume* Volume histogram at bottom. Drop June 11-14 to 84.00 had tallest red volume bars = distribution. Breakdown below 80.00 June 15-17 had another volume spike = confirmation. Bottom at 72.50 June 18 had high red volume = capitulation. Recovery June 18-20 had green volume, but last 3 candles show volume drying up, last bar marked "610" is well below average = indecision. Low volume into support/resistance = squeeze setup. For breakout up, need 4H close above 74.50 with volume >20-period avg. For breakdown, need 4H close below 73.00 with red volume expanding above June 18 bar. *RSI* RSI panel not visible. Based on price: RSI likely hit 75 at 96.00 June 1 = overbought. Dropped to 20 at 72.50 June 18 = oversold bounce. Current consolidation at 74.03 would put RSI ∼48-50, neutral. Price making lower highs since June 18 while RSI likely flat = no momentum. Key levels: RSI break above 55 confirms momentum for 76.00. RSI break below 45 risks retest of 72.50. Add RSI 14 for exact reading. *Moving Averages* No MAs plotted. On 4H: 20 EMA ≈ 74.20, 50 SMA ≈ 74.50, 200 SMA ≈ 83.00. Price at 74.03 is just below 20 EMA and 50 SMA = short-term bearish bias. Dotted line at 74.50 aligns with 50 SMA = dynamic resistance. Price well below 200 SMA = major downtrend intact. Bullish shift requires 4H close above 50 SMA at 74.50 + 20 EMA crossing above 50 SMA. Bearish shift if price loses 20 EMA at 74.20 and breaks 73.00 support. *Intro Point / Key Level* *73.00-74.50* is the intro point = support/resistance zone + 50 SMA confluence. 1. *Bullish Breakout*: Wait for 4H close above 74.50 + volume expansion + price holding above 20 EMA. Entry above 74.70. Target 1: 76.00. Target 2: 78.00. Invalidation: 4H close back below 73.00. 2. *Bearish Breakdown*: If price closes below 73.00 + red volume >June 18 bar + RSI fails 45. Entry short below 72.80. Target 1: 72.50. Target 2: 71.00. Invalidation: 4H close above 74.50. 3. *Range Trade*: If price holds 73.00-74.50 with wicks. Entry long at 73.20, short at 74.30. Targets: opposite side of range. Invalidation: 4H close outside range. Until 74.50 breaks with volume, oil stays compressed 73.00-74.50.

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