WTI Light Crude OilShort
WTI Crude Oil Pennant
WTI is in the midst of a Symmetrical Pennant, being the 6th Leg.
If the pattern plays out, we can expect Crude Oil to be in a range between
the 786 and 886 Fibonacci retracement. That is a price of 74.18 - 75.42.
Of interest will be the break
1. Downside break will see targets of 68 and 63.
2. Upside break will have 84, 88, 96.
For the next 2 weeks, the outlook remains bearish.
If the pattern plays out, we can expect Crude Oil to be in a range between
the 786 and 886 Fibonacci retracement. That is a price of 74.18 - 75.42.
Of interest will be the break
1. Downside break will see targets of 68 and 63.
2. Upside break will have 84, 88, 96.
For the next 2 weeks, the outlook remains bearish.
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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.
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.