WTI Price Analysis: Bears move in on the low hanging fruit, eye $78.00 after bullish correction – by fx_ross WTI Oil Technical Analysis DollarIndex
WTI prior analysis
The price was looking to be on the verge of completing an M-formation below the locked-in highs below horizontal resistance:with the right-hand shoulder on the backside of the micro trendline:As illustrated, the price has indeed followed the projected trajectory on Thursday. Bears can now target lower into the origin of the prior bullish trend:From an hourly perspective, drawing the expansion of the prior consolidative range, a full 100% measured move aims for a test of $78.00.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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