For the past few weeks, our outlook on WTI has been consistently bearish. While the market has been gradually trending downward overall, the price has not yet reached the downside target levels we have identified. Following a recent pullback, WTI encountered an order block where it consolidated and exhibited renewed weakness.
In the H1 timeframe, the On-Balance Volume (OBV) reflects a whipsaw movement that can be interpreted as bearish. Additionally, the OBV in the H2 timeframe shows a clear bearish divergence.
Consequently, we anticipate that the price declines in WTI will continue in the near future.
In the H1 timeframe, the On-Balance Volume (OBV) reflects a whipsaw movement that can be interpreted as bearish. Additionally, the OBV in the H2 timeframe shows a clear bearish divergence.
Consequently, we anticipate that the price declines in WTI will continue in the near future.