WTI: Weekly Forecast 19th September 2021
WTI has continued with its bullish trend as it defied a rejection from a falling trendline and went ahead to breakout of it completely.
By now, it is becoming clear that the oil market will continue to rise as demand continues to rise as well during this recovery period.
This week, we will wait for a pullback beyond 71 and look for a buying opportunity in the demand zone around 70 which should potentially reach 74, then 76.
If the rebound doesn't happens after the pullback and price continues to go south, the next key demand is seen at 67.
By now, it is becoming clear that the oil market will continue to rise as demand continues to rise as well during this recovery period.
This week, we will wait for a pullback beyond 71 and look for a buying opportunity in the demand zone around 70 which should potentially reach 74, then 76.
If the rebound doesn't happens after the pullback and price continues to go south, the next key demand is seen at 67.
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