If you look at the COT report this week, you see that the big players of the market have doubled their short positions this week. last week the net position was -24,356 and this week it's -40,281 so, regarding this, we should expect a strong downtrend. Today we encountered a daily resistance which was respected as ...
Price couldn't make it to new highs for a while and we have a consolidation area here.
There are two destination here
One: The price breaks the upper line and moves forward to gain new highs OR making a double top pattern
Two: The price moves alongside the upper line till it reaches the yellow area. There we ...
CRUDE OIL (WTI)
There are three major supports on this chart.
due to international conflicts and recessions over Europe
and Asia, I think the second support line is
very likely to be reached on the long-term.