WTI pressured by Delta variants breakout
As forecasted, the sellers' pressure continues to control the energy market. After the H&S reversal pattern, the market consolidates while shaping a bearish continuation flag that dropped the WTI price towards a major ascending trendline.
Bulls are struggling to keep the price above the $67 handle. Complicated task as headlines about China mobility restrictions tied up to the Delta variant and OPEC+ increased supply for this months remains to hover the market.
Failing to hold the fortress at $67 may bring prices to July levels and re-test the 65 handle.
Bulls are struggling to keep the price above the $67 handle. Complicated task as headlines about China mobility restrictions tied up to the Delta variant and OPEC+ increased supply for this months remains to hover the market.
Failing to hold the fortress at $67 may bring prices to July levels and re-test the 65 handle.
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