WTI CRUDE OIL: Selling until the end of the month.

WTI Crude Oil is bearish on its 1D technical outlook (RSI = 35.492, MACD = -1.060, ADX = 41.641) as it got rejected on the 1D MA200 today. The longer it remains under the 1D MA50, the stronger the selling will be. Being inside a Channel Down similar to October-November 2023 that extended all the way to the 1.5 Fibonacci level, we are expecting selling for the rest of the month. The 1.5 Fib is now just over the S2 level and that is our medium term target (TP = 71.50).


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