WTI oil price, where next?
Hello traders, on Friday we've seen strong buy pressure dove the price up after Thursday prices decrease (could be related to the IEA report release where they expected an increase in demand), however, we can see clearly that the price is ranging in a bullish triangle, any break above the resistance line could take the price higher, the current resistance price level (41-42$) was support level for 4 years ago!
on the other hand, any breakdown of the support trendline could lead to a big price correction.
Your comments are welcome.
Remember this is just my own thoughts, not financial nor investment advice. trading is risky and you should do your own research before engaging in it.
on the other hand, any breakdown of the support trendline could lead to a big price correction.
Your comments are welcome.
Remember this is just my own thoughts, not financial nor investment advice. trading is risky and you should do your own research before engaging in it.
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