WTI OIL Downtrend and Support Zone Analysis
WTI OIL
Chartist Trader
7/29/20241 min read
WTI OIL is forming a downtrend, with the price currently near a support zone, characterized by the lower boundary of the price channel and a former resistance level that has turned into support. If the price rebounds, it is likely to move towards the middle line of the price channel before continuing upward to the higher boundary of the price channel, where it may also encounter the supply area.
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