Oil Price Reverses Below $90 as Bullish Targets Activated Above $90.90

WTI crude oil futures traded down to $89.57, hitting the first bearish target at $89.58 by just one cent.

The breakdown failed sharply, with the same 30-minute candle closing back near $90.55, indicating sellers had not established acceptance below the support area.

Despite this initial success, the bearish trade did not continue toward the second target at $88.67.

A bearish invalidation was set at $90.94, but all three entry prices for a short position were traded during the subsequent market action: $90.00, $90.11, and $90.45.

The tradeCompass approach suggests reducing risk after reaching the first target, with traders advised to consider moving their stop loss toward the average entry or lowering it to approximately $90.35.