WTI Crude Oil: Latest Weekly Forecast- $82.60 & 78.60
WTI Crude Oil Futures 🛢️
Despite multiple attempts to make sustainable break above $82.60 WTI settled for the week on a relatively bearish mood at $79.68
Momentum appears trapped within $4 range of $82.60 - $78.60 which needs to break for further direction.
Thus far, decisive breakout above $82.60 opens way for next leg higher $83.88 followed by $84.70 which is 61.8% Fibonacci level of retracement from $93.76 to $70.06
In case of strong break below $79.10 and$78.60 next drop to $77.76 may be eyed followed by $76.78 and $75.65
Despite multiple attempts to make sustainable break above $82.60 WTI settled for the week on a relatively bearish mood at $79.68
Momentum appears trapped within $4 range of $82.60 - $78.60 which needs to break for further direction.
Thus far, decisive breakout above $82.60 opens way for next leg higher $83.88 followed by $84.70 which is 61.8% Fibonacci level of retracement from $93.76 to $70.06
In case of strong break below $79.10 and$78.60 next drop to $77.76 may be eyed followed by $76.78 and $75.65