Crude Oil (WTI) Short Term Forecast Update And Follow Up

Hi Traders! Crude Oil (WTI) short term forecast update and follow up is here. On May 6th I shared this “Crude Oil (WTI) Short Term Forecast And Technical Analysis” post in my blog. In this post, let’s do a recap of this setup and see how it has developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available!

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Now, let’s summarize the idea first:

Contents hide

1 WTI Crude Oil D1(Daily) Chart Analysis
2 WTI Crude Oil H4(4 Hours) Chart Analysis
3 WTI Crude Oil H1(1 Hour) Chart Current Scenario

WTI Crude Oil D1(Daily) Chart Analysis

Bearish Trend Pattern, Psychological Level, Bullish Divergence, CCI Indicator

WTI Crude Oil H4(4 Hours) Chart Analysis

On the H4 chart, the price which is moving higher has created two higher highs, higher lows pattern. Based on the current scenario there is a good possibility for the price to create one more high to complete the bullish trend pattern.

WTI Crude Oil H1(1 Hour) Chart Current Scenario

On the H1 chart, the price moved perfectly as per my analysis. We had a pullback in the form of double wave down with the price creating a bullish hidden divergence between the first low that has formed at 18.04 and the second low that has formed at 22.57. Then the price moved higher and broke above the most recent downtrend line and it moved higher further as I expected.

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To your success,

Vladimir Ribakov
Certified Financial Technician

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.