technical view:
a wolfe wave pattern completed also 5 wave impulsive is seen to be completed also a divergence on RSI
it seems that WTI trying to reach its wolfe wave target as 83$
fundamental view:
Tight supply concerns are being driven by another draw in U.S. stockpiles, OPEC+ output cuts and the upcoming embargo of Russian oil by the European Union.
Worries about a global recession are being fueled by a sharp rise in the U.S. Dollar, which could dampen foreign demand for dollar-denominated oil.
The greenback is being bolstered by a surge in Treasury yields, making the dollar a more attractive investment.
Yields are being driven higher by hawkish commentary from Fed Chairman Jerome Powell who said on Wednesday it was premature to consider pausing rate increases.
a wolfe wave pattern completed also 5 wave impulsive is seen to be completed also a divergence on RSI
it seems that WTI trying to reach its wolfe wave target as 83$
fundamental view:
Tight supply concerns are being driven by another draw in U.S. stockpiles, OPEC+ output cuts and the upcoming embargo of Russian oil by the European Union.
Worries about a global recession are being fueled by a sharp rise in the U.S. Dollar, which could dampen foreign demand for dollar-denominated oil.
The greenback is being bolstered by a surge in Treasury yields, making the dollar a more attractive investment.
Yields are being driven higher by hawkish commentary from Fed Chairman Jerome Powell who said on Wednesday it was premature to consider pausing rate increases.
Note
Note
another leg up before down moveNote
Please take care of this scenario . As unemployment rate of USA released higher and usdcad made head and shoulder so usoil is intensely bullish .let's update and get better insight 
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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.