Trend conditions in WTI futures remain bearish, however, the latest recovery highlights the start of a possible corrective cycle. A continuation higher would allow an oversold trend reading to unwind, ahead of a resumption of the downtrend. The next resistance is at $77.74, the 20-day EMA. On the downside, the bear trigger lies at $70.08, the Dec 9 low. A break would resume the downtrend.

Homepage markets-real-time Commodities Energy Bullets Bullet Energy Technical Analysis

Taso Anastasiou

Homepage markets-real-time Commodities Energy Bullets Bullet Energy Technical Analysis

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(F3) Corrective Phase