WTI Oil Price Outlook: Downtrend Continuation Expected
WTI OIL
Chartist Trader
7/15/20241 min read
Since the WTI Oil price has not breached the downtrend line on the daily timeframe, a continuation of the downtrend is anticipated. Confirmation of this trend is expected once the price breaks below the demand area. Following this breakout, a minor correction is expected before the price resumes its downtrend toward 76.228, as indicated by the Fibonacci 261.8 ratio.
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