WTI OIL (USOIL) Technical Analysis
Upon examining the WTI (West Texas Intermediate) crude oil chart, we observe a robust bullish trend, accompanied by a retracement to the 78.6% Fibonacci level. This significant pullback warrants attention, as price action appears poised for a deeper correction.
In our analysis, we consider historical price swings, taking into account seasonality patterns from previous years at the same time. By doing so, we explore the likelihood that institutional players may be positioning themselves to drive prices lower, targeting liquidity zones below previous support levels. Additionally, an imbalance is evident on the 4-hour timeframe.
Disclaimer: This technical analysis serves as an opinion and should not be construed as financial advice. Traders and investors should conduct their due diligence and seek professional counsel before making any trading decisions.
In our analysis, we consider historical price swings, taking into account seasonality patterns from previous years at the same time. By doing so, we explore the likelihood that institutional players may be positioning themselves to drive prices lower, targeting liquidity zones below previous support levels. Additionally, an imbalance is evident on the 4-hour timeframe.
Disclaimer: This technical analysis serves as an opinion and should not be construed as financial advice. Traders and investors should conduct their due diligence and seek professional counsel before making any trading decisions.
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👀 👉 Check Out Our INDICATORS
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