WTI What's Above? On the Hourly, there's the Swing Highs of 71.065 and 71.365. Let's see if the bulls breach those levels. This is part of the EXPLOSIVE move as foretold by the Double Inside Day on the 4-Hour timeframe.
*Side Note: An Exhaustion Candle is forming, so there may be anywhere from 1 - 3 smaller candles before a reversal to the downside.
WTI On the Hourly, it's in Bullish Market Bias. This is a tricky situation: - The Bullish & Bearish Trendlines (in red and green dotted lines) formed a triangular wedge; - This current bullish rally is close to the Swing High of 70.725. A bullish candle can breach this level with a candle close on it to go higher towards the two other Swing Highs (at 70.735 and 70.955). But if not, the bears can step in and cross the Bearish Trendline (in green dotted line) to go below it - flipping the market bias from Bullish to Bearish, then head towards the Swing Low of 69.865. - Also, if the current Hourly candle can't do a candle close past the Pivot High of 70.805 (in dark red arrow), then down it goes.
*Side Note: Based on the 4-Hour timeframe, a Double Inside Day showed up, so a BIG move is coming.