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WTI Light Crude Oil
Short

WTI → Oil prices drop as the USD recovers, OPEC cuts

76
The outlook has turned bearish for the WTI. This is mainly because the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) reside deep in negative territory and as the price is seen below its 20,100 and 200-day Simple Moving Averages (SMA). This indicates that on the shorter and broader scales, the sellers are dominating.

Resistance Levels: $75.00, $76.15 (20-day SMA), $77.00

Support Levels: $72.80, $72.30, $71.00
tradingconmike
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Chart PatternsOilopecTrend AnalysisWTIwtianalysiswtishortwtisignalwtitrade

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Chart PatternsOilopecTrend AnalysisWTIwtianalysiswtishortwtisignalwtitrade
tradingconmike
🟢Free Signals:
t.me/forextradingfusion

🔴Contact:
t.me/tradingconmike1
Also on:

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.