WTI CRUDE OIL: Buy opportunity on the 1D MA50.

2 days ago

WTI Crude Oil is neutralizing the previously overbought 1D technical outlook (RSI = 69.520, MACD = 2.080, ADX = 64.888) as after crossing over the R1 level, it is pulling back under it. Technically this has been mirroring the March-August 2023 fractal and based on that, we should see this pull back almost reach the 1D MA50. A buy opportunity is waiting there and our target is the 1.618 Fibonacci level (TP = 86.00).

See how our prior idea has worked out:

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