WTI Price Analysis: Bulls come up for air to test key resistance – by fx_ross Oil Commodities Technical Analysis
is trading 1.5% higher after rallying from a low of $86.20bbls to a high of $90.17bbls on the day so far. The price recently broke below the weekly trendline support that is in the process of being retested as the above analysis illustrates. WTI H4 chart
From a 4-hour perspective, however, the price has formed a W-formation and should the support area hold, there could be a move to test above the resistance which could lead to a break back into the bullish weekly trend.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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