US OIL (WTI/USD) – Week 18 – Expecting a drop.
Updated
In our previous forecast, we were expecting WTI to fall and reach the liquidity pool. Instead, the price increased, but our bias hasn’t changed.
For next week, we expect the price to lose some steam and drop towards the support area that we highlighted.
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.
For next week, we expect the price to lose some steam and drop towards the support area that we highlighted.
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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