Hello everyone,
WTI Oil 6H NEW FORECAST
The oil price is showing positive trading with the opening of the day, approaching the pivotal resistance of 70.50, and as we indicated yesterday, the price needs to remain below this level for the bearish trend scenario to remain effective, remembering that our next main target reaches 68.81.
The Stochastic indicator noticeably loses its positive momentum to support the continuation of the expected negative scenario, which receives continuous support from the moving average of 50, keeping in mind that breaching 70.50 will lead the price to achieve further gains and head to visit the 72.20 areas and may extend to 73.73 before any new attempt to decline.
The general trend expected for today: Bearish
WTI Oil 6H NEW FORECAST
The oil price is showing positive trading with the opening of the day, approaching the pivotal resistance of 70.50, and as we indicated yesterday, the price needs to remain below this level for the bearish trend scenario to remain effective, remembering that our next main target reaches 68.81.
The Stochastic indicator noticeably loses its positive momentum to support the continuation of the expected negative scenario, which receives continuous support from the moving average of 50, keeping in mind that breaching 70.50 will lead the price to achieve further gains and head to visit the 72.20 areas and may extend to 73.73 before any new attempt to decline.
The general trend expected for today: Bearish
