FenzoFx—Crude Oil remains bearish, taking out bulls and breaking July's low this week—an unexpected move for the month. WTI Crude currently trades near $65.2, aligning with its prior market structure shift from bearish to bullish, marked by a bullish engulfing on June 6.
Forecast: Immediate resistance stands at July's low of $65.5. If price breaks above, Oil may begin to recover some losses. Technically, the next upside target is the order block at $67.29.
Forecast: Immediate resistance stands at July's low of $65.5. If price breaks above, Oil may begin to recover some losses. Technically, the next upside target is the order block at $67.29.
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Knowledge Should Be Free – And So Is Your Path to Trading Success.
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.