$OIL
WTI Oil Forms a “Cup” Pattern Signaling a Potential 5% Upside
Crude oil (WTI) has recently formed a classic “cup” pattern on the 30 minutes and daily chart, hinting at a potential bullish continuation. The depth of the formation suggests a possible 5% upward move, targeting the $61–62 range. Two key fundamentals are reinforcing this setup: first, India’s decision to halt purchases of discounted Russian oil, which tightens global supply; and second, the latest EIA inventory report showing an unexpected drop in U.S. crude stockpiles. Together, these factors strengthen bullish sentiment and could drive WTI higher toward the next resistance zone near $62.
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Not investment advice. The author may have financial interests in the mentioned instruments.
$oil , after the cup is filled and target achieved, the next move may be the correction to VFG and 50% of Fibonacci to get more power to go up . Let’s see ... Show More
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Sat Aug 15 2026 19:14:06 GMT+0000 (Coordinated Universal Time)
