US CRUDE OIL (WTI): Bearish Outlook Explained
The USOIL price dropped below a strong horizontal support level last week and closed below it.
After breaking this support, upon retesting the broken structure, the market started to consolidate.
A bearish breakout of the consolidation range's support area confirms a strong bearish trend, increasing the likelihood of a continued decline.
The target price is set at 67.20.
After breaking this support, upon retesting the broken structure, the market started to consolidate.
A bearish breakout of the consolidation range's support area confirms a strong bearish trend, increasing the likelihood of a continued decline.
The target price is set at 67.20.
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Join our Telegram channel for daily market update 👇👇
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For paid signal👇👇 t.me/linofx1999
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.