Crude Oil Futures (CL1!) D1 | Rising into Multi-swing-high Resistance

Type:

Bearish Reversal

Key Levels:

Resistance: 80.26

Pivot: 77.42

Support: 73.24

Preferred Case:

Looking at the D1 chart, my overall bias for crude oil futures (CL1!) is bearish as the price rises towards a multi-swing-high resistance. It could stall around the Pivot before reversing to drop towards the 1st Support at 73.24.

Alternative Scenario:

Price may break above the Pivot at 77.42 and rise towards the 1st Resistance at 80.26.