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WTI: Watching the $80 psychological resistance closely
Been looking at WTI, and that $80 mark is really holding as key resistance. We've tried to push through a few times now without much conviction. My read is that if we can't decisively clear and hold above $80, say for a daily close, there's a good chance we retest the lower end of the recent range, possibly back towards $76. The risk that invalidates this would be a strong, high-volume break and consolidation above $80, potentially signaling a move towards $83-$84. Until then, I'm just watching for further confirmation around this pivot.
1 comments · 29 points
That's a solid analysis. I'm new to charting, but I've noticed how often those round numbers act like invisible walls. What kind of volume increase would you consider 'strong' for a decisive break above $80?