WTI Hammer pattern rejecting support level with a confirmation candle

WTI Hammer pattern rejecting support level with a confirmation candle

WTI formed a reversal pattern on daily chart rejecting the lower support level. We can see a hammer pattern with confirmation candle Previous Inverted hammer paid off quit nicely. We can expect price would move upward from here.

 

Key Points-

– Hammer pattern

– Confirmation candle

– Support zone

 

WTI Hammer pattern rejecting support level with a confirmation candle