US OIL (WTI/USD) – Week 17 – In the middle of a correction.
Updated
Last week, WTI respected our analysis and dropped from the resistance level.
Next week, we first expect the price to finish consolidating and then drop towards the liquidity pool area. Right now, we find ourselves in the middle of a bigger degree correction and the higher probability is that the price will drop, but we recommend caution.
Keep an eye on Wednesday’s weekly EIA stocks report as it may have an impact on this asset.
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.
Next week, we first expect the price to finish consolidating and then drop towards the liquidity pool area. Right now, we find ourselves in the middle of a bigger degree correction and the higher probability is that the price will drop, but we recommend caution.
Keep an eye on Wednesday’s weekly EIA stocks report as it may have an impact on this asset.
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.
Trade closed: stop reached
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