$CL Attempting a Bounce After Sweeping Local Bottom! 🛢️
#CL (WTI Crude Oil) has found short-term relief around the $74.12 support zone on the 1H chart and is trading at $75.60.
The 24h volume is active at $554.25M. Technically, we just saw a minor liquidity sweep at the lows, which triggered this intraday bounce. However, the overall bias remains heavily bearish as it continues to print lower highs. Unless the bulls can breaks above the immediate lower-high resistance, this relief rally might just be a trap to build more sell-side liquidity for a deeper drop. Trade with caution! ⚠️
Bias: Bearish / Cautious 🔴
Current Price: $75.60
Immediate Resistance: $77.50 / $79.30
Key Support: $74.12
Are you scalping long on this bounce or looking to short the next resistance? Share your setups! 👇