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West Texas Oil
Long

Oil Market Shift: Double Bottom Pattern Points to Higher Prices

358
  • WTI oil has moved beyond its previous support level of $72 to $73, established a new base at approximately $65.6.
  • Subsequently, the price has entered a consolidation phase and formed a Double Bottom pattern, indicating a possible reversal in trend.
  • To initiate a swift upward movement, the price must overcome the immediate resistance located between $72.6 and $73.4.
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Chart PatternsCrude OilcrudeoilanalysiscrudeoilwtiTechnical IndicatorsnaranjcapitalTrend AnalysisCrude Oil WTIusoilanalysisusoilpredictionwesttexasoil
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🎖️ CMT (usa) & CFTe (usa) chartered

🇺🇸 Telegram - USA Stocks Trading Advice
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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.