WTI has completed a textbook flat continuation pattern with a bearish engulfing candle slicing below $65.40 support.
Price is now hovering near $60, with downside momentum targeting $58.45 and $56.50 next.
RSI remains deeply oversold near 26, hinting at potential for a relief bounce. However, as long as price stays below the 50 EMA ($69.05), bearish bias remains intact.
Price is now hovering near $60, with downside momentum targeting $58.45 and $56.50 next.
RSI remains deeply oversold near 26, hinting at potential for a relief bounce. However, as long as price stays below the 50 EMA ($69.05), bearish bias remains intact.
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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.