WTI OIL Set to rebound back to $84 based on this pattern

Dec 9, 2022

WTI Oil (USOIL) is repeating the September correction pattern, which made a September 26 Low and then rebounded aggressively. A common feature is the symmetrical Lower Lows on the 1D RSI sequences. If that rebounds here next week, we expect Oil to reach, first the top of the June Channel Down (blue circle) and if broken, then move at least to test the 1D MA50 (blue trend-line) into a diverging Channel (dashed lines).


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