CRUDE OIL (WTI/USD) – Week 4 – One more attempt to break the top
WTI ended the week lower on Friday, after an unexpected rise in US oil inventories. In the weekly report released by the EIA, it was mentioned that US Oil inventories rose by 4.4 million barrels last week, compared to a 1.7 million barrels drop that was expected.
For the coming week we anticipate a last-ditch price push to break the top before starting a bigger bearish move that would act as a correction.
Don’t forget to keep an eye on The EIA Crude Oil stockpiles report that would be released on Wednesday, as it could act as a trigger.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For the coming week we anticipate a last-ditch price push to break the top before starting a bigger bearish move that would act as a correction.
Don’t forget to keep an eye on The EIA Crude Oil stockpiles report that would be released on Wednesday, as it could act as a trigger.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed manually:
Still in a consolidation phase.
