WTI Engulfing Pattern Rejecting Dynamic support

WTI Engulfing Pattern Rejecting Dynamic support

WTI formed a Bullish Engulfing Pattern on daily chart rejecting dynamic support. We can see a golden cross appeared and price likely to hold bullish momentum here. If look at overall price action we can see a emerging double bottom pattern on daily chart, first target of current bullish momentum target up to double bottom neckline.

Key points-

– Dynamic support

– Golden Cross

– Double Bottom

 

 

WTI Engulfing Pattern Rejecting Dynamic support