WTI is reaching a significant weekly supply zone with sign of RSI divergence.
Bias to lower levels towards 68 with likely bounce on the lower channel support.
Further upside towards the upper resistance channel first remains a possibility.
Bias to lower levels towards 68 with likely bounce on the lower channel support.
Further upside towards the upper resistance channel first remains a possibility.
Comment:
NB: on the price action on the 30min chart could well be a Head & Shoulder pattern