CRUDE OIL (WTI/USD) – Week 8 – Bulls not letting go.
Last week, Oil fell the most in nearly a month, suffering from a deep market selloff in sync with the current energy crisis in the U.S. that will likely keep refineries shut for another week, lowering the demand.
In the past few weeks, our technical perspective inclined towards a bearish move and it looks like it has been finally triggered. At the moment we are consolidating underneath the trendline and we expect the selloff to continue in the coming days.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
In the past few weeks, our technical perspective inclined towards a bearish move and it looks like it has been finally triggered. At the moment we are consolidating underneath the trendline and we expect the selloff to continue in the coming days.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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