WTI crude oil mid-term bearish signs
Weekly bearish engulfing candle annihilates 3.5 weeks of up-swing.
The key to the development is breaking below 91.74, which requires prior breaking of down-sloping blue trend line. If that is realized, one can expect AB=CD with the target around 82.5 withing 7 weeks.
The idea is supported by increased oil production by Lybia and (supposed-to-be) by Iran in the conditions of stagnant world consumption and decreased mid-East tensions.
The key to the development is breaking below 91.74, which requires prior breaking of down-sloping blue trend line. If that is realized, one can expect AB=CD with the target around 82.5 withing 7 weeks.
The idea is supported by increased oil production by Lybia and (supposed-to-be) by Iran in the conditions of stagnant world consumption and decreased mid-East tensions.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.