Market Overview:

Price is currently trading within a short-term bullish channel, indicating an overall upward structure. However, recent price action shows clear signs of momentum slowing down, especially as price approaches a key resistance zone.

The appearance of rejection wicks near the highs (105.80–106.20) suggests that sellers are becoming active, creating a potential pause or pullback before continuation.

📉 Market Structure

Trend: Bullish (channel structure)

Momentum: Slowing

Condition: Resistance test / decision zone

🔑 Key Levels to Watch

🔴 Resistance Zones

• 105.80 → Immediate intraday resistance
• 106.20 → Breakout trigger level
• 107.00 → Strong upside target

🟢 Support Zones

• 104.80 → Immediate support
• 104.20 → Key intraday support
• 103.50 → Trend invalidation level

📊 Trading Scenarios

📈 Bullish Continuation Scenario

If price breaks and holds above 106.20, expect:

➡️ 107.00 upside target

➡️ Continuation of bullish channel

📉 Pullback Scenario (High Probability)

If rejection continues near resistance:

➡️ Pullback toward 104.80 → 104.20

➡️ Possible deeper retracement if momentum weakens further

⚠️ Market Insight

✔️ Bullish structure still intact

✔️ Rejection wicks = supply pressure

✔️ Slowing momentum = potential correction

This combination typically signals a pause before the next directional move.

📌 Pro Trader Note

This is a classic decision zone.

📈 Above 106.20 → bullish breakout

📉 Below 105.80 → pullback likely

Wait for confirmation — avoid chasing at resistance.

#WTICrudeOil# #WTI# #CrudeOil#