Similiar to the analysis of Brent (check link)
Anticipation was for WTI to trade between 98 and 104, however anticipating weaker demand due to potential lockdowns in China due to a new Covid variant and the persistent concerns of a global recession, has led WTI to trade below 98.
If price continues to drop, significant downside could be expected, with the next support level at 90
Anticipation was for WTI to trade between 98 and 104, however anticipating weaker demand due to potential lockdowns in China due to a new Covid variant and the persistent concerns of a global recession, has led WTI to trade below 98.
If price continues to drop, significant downside could be expected, with the next support level at 90
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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.