WTI CRUDE OIL: Rebound to 75.50 very probable.
WTI Crude Oil is bearish on its 1D technical outlook (RSI = 40.837, MACD = 0.030, ADX = 37.618) which is natural as it's trading inside a Channel Down. The pattern formed a 4H Death Cross yesterday and even though it's technically bearish, the last time it was formed (October 24th 2024), it marked a bottom 4 days later. The bottom was formed on a HL trendline and if it gets repeated, we should see a HL rebound soon. As with November's rebound, we will be targeting the 0.5 Fibonacci level (TP = 75.50).
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