ColonelHaathi
Short

WTI breaking down out of wedge formation of past 3 weeks.

FX_IDC:USDWTI   U.S. DOLLAR / WTI CRUDE OIL
58 0 0
We have a preliminary signal for a WTI break lower from the wedge formation it has been building for the past 3 weeks. We will need to confirm the breakdown with continued price action. Inital targets based on Fib levels of recent top and bottom are $43.48 ( 50% retracement ), $42.12 ( 61.8% retracement ) with the ultimate target being the low of ~$37.81 established on Aug 24th.
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