WTI Price Analysis: Bears taking up the driving seat, eye break below $100bbls By ross_burland Oil Commodities Technical Analysis
WTI hourly chartis seeing the price drop below the support line which is now the counter trendline and would be expected to resistance attempts back to the upside. This leaves the focus on a break of $100bbls for the sessions ahead, as illustrated on the daily chart below:The bears are in control as the price is rejected from the golden 61.8% ratio and embarks on a test of the dynamic daily trendline support.
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