InvestingScope
Short

WTI Oil: 1D Channel Down intact. New Low expected.

FX:USOIL   CFDs on Crude Oil (WTI)
The 1W Channel Up that bullish investors expected to contain the downtrend above 65.60 was violently crossed to the downside (STOCHRSI = 0.000 , Williams = -97.427) with Highs/Lows and B/BP turning negative (-4.3279 and -9.4580 respectively). Only 1M supports now but this is within 58.20 - 60.20. We expect that the 1D Channel Down ( RSI = 25.770, MACD = -1.970), though oversold ( STOCH , STOCHRSI, Williams), will extend to that support as part of its Lower Low. Our TP is 60.20.
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Definitely saw 1W support broke in the past few days, but market does look oversold, bit risky sell for me on this one lol
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@Dani0, It has eventually extended the pattern. But thanks for your idea. Constructive arguments are always welcome.
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Dani0 InvestingScope
@InvestingScope, Oh yeah i saw, nice call there.
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