WTI Oil continues to decline
Hello everyone,
WTI Oil 4H NEW FORECAST
Oil price fluctuates positively, approaching testing the pivotal resistance 79.60.
The price needs to remain below this level for the bearish corrective trend to remain effective.
Breaking 79.60 represents the key to starting recovery attempts and achieving gains up to 81.50 initially.
Moving average 50 supports the suggested bearish wave.
Our targets start at 77.65 and extend to 75.25 after breaking the previous level.
Expected trading range for today:
Support: 78.83
Resistance: 79.70
WTI Oil 4H NEW FORECAST
Oil price fluctuates positively, approaching testing the pivotal resistance 79.60.
The price needs to remain below this level for the bearish corrective trend to remain effective.
Breaking 79.60 represents the key to starting recovery attempts and achieving gains up to 81.50 initially.
Moving average 50 supports the suggested bearish wave.
Our targets start at 77.65 and extend to 75.25 after breaking the previous level.
Expected trading range for today:
Support: 78.83
Resistance: 79.70
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.