BLACKBULL:WTI   West Texas Intermediate Crude Oil cash
WTI had fallen for 3 consecutive days in Wednesday. The bank crisis is calling banks to deleverage their positions, pulling back on their exposure on oil and causing the price to fall.

International Energy Agency (IEA) is also reporting that the current situation in the oil market is a situation of oversupply, while Russia is looking for buyers for its oil .

The price of WTI broke the support of the rising wedge pattern and continues to drop. Both MACD and RSI indicators are confirming the pattern as well.

If the current scenario continues, the price might reach levels of 62 or even 54.

In the opposite scenario the price might reach levels of 77.5 and pivot into an uptrend.

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