US OIL (WTI/USD) – Week 19 – Targeting the support.
Updated
WTI gained more bullish momentum, despite our previous analysis in which we anticipated a price drop. Even though the price went against our analysis, the structure hasn’t changed.
For next week, we are expecting the price to make a small consolidation and test the lower channel line. If we breach it, we have a good chance to go all the way towards the support area. If not, then the price could be spending some time inside this channel.
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 are expecting the price to make a small consolidation and test the lower channel line. If we breach it, we have a good chance to go all the way towards the support area. If not, then the price could be spending some time inside this channel.
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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