US OIL WTI : Bullish - 2 Falling wedges + Head&Shoulders Wti crude oil can rise higher because of current geopolitical tensions. OPEC countries have reduced their daily production of barrels of oil. Technically: The wolf of Zurich has detected 2 "Falling wedges" and an " inverse head & shoulders" . These chartist patterns could raise the price of WTI oil around...
US OIL WTI above 68.7level the price will be above buyer and will continue at the reach the suggested targets 71.27 ,73.35 as for renewing bearish attempts , should stable under 68.79 and then will support the price to push down and reach67.05 , 65.67 and 34.52 the expect trading range for today is between the support line 68.79 and resistance line 67.05 The...
For some time now, we held the view that the price of West Texas Intermediate crude oil would remain volatile, trapped within a wide range between $70 and $82. Then more recently, we stated that the oil price was likely to break below $70 as the U.S. administration sought to unload more crude oil from its Strategic Petroleum Reserves. Today, we would like to...
A possible Elliott waves scenario!