WTI oil – Cypher indicates scope for fresh rally
- The corrective rally in oil is underway, but a Cypher pattern plotted on weekly chart indicates the potential reversal zone of Leg D stands at $54.76 levels.
- As long as the rising trend line on the daily chart is intact, there is every possibility of WTI oil rising to leg D of Cypher formation at $54.76 levels.
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