Oil maintains its negative stability
Updated
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WTI OIL 6H NEW FORECAST
Oil price trading stabilizes below the level of 73.73, so that the bearish trend scenario remains valid and effective for the coming period, supported by the negative pressure formed by the moving average of 50, waiting to head towards the levels of 72.20 and then 70.33, which represent our next main targets.
Consistency below 73.73 is important to achieve the proposed goals, as breaching it represents an initial key to turning higher and attempting to build an upward wave on an intraday basis, mainly targeting the 77.86 areas.
WTI OIL 6H NEW FORECAST
Oil price trading stabilizes below the level of 73.73, so that the bearish trend scenario remains valid and effective for the coming period, supported by the negative pressure formed by the moving average of 50, waiting to head towards the levels of 72.20 and then 70.33, which represent our next main targets.
Consistency below 73.73 is important to achieve the proposed goals, as breaching it represents an initial key to turning higher and attempting to build an upward wave on an intraday basis, mainly targeting the 77.86 areas.
Trade active
The oil price succeeded in achieving our extended target at 70.00 and breaking it to close the daily candle below it, reinforcing expectations that the bearish trend will continue to dominate in the immediate and short term, heading towards mainly targeting the 67.04 areas.
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