Ok folks lets have a breakdown of the situation.
WTI has to print a weekly close above 47.8 for us to even thinking of buying it. Very strong downtrend.
Green zone is supporting the price but this will not last long if the buyers can not push above 47.8 and close there. Ultimately the bears will break through 45 and head towards 41.3 which is the main target.
The last arrow towards 37 may be "a bridge too far" but it is not out of reach if we break through green zone.
I would appreciate your opinions and analysis.
Best Regards
WTI has to print a weekly close above 47.8 for us to even thinking of buying it. Very strong downtrend.
Green zone is supporting the price but this will not last long if the buyers can not push above 47.8 and close there. Ultimately the bears will break through 45 and head towards 41.3 which is the main target.
The last arrow towards 37 may be "a bridge too far" but it is not out of reach if we break through green zone.
I would appreciate your opinions and analysis.
Best Regards