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West Texas Oil
Short

Midterm view of XTIUSD or crude oil - TECHNICAL ANALYSIS ONLY

By Theperfectionist
Updated
The energy security is subjected to a bearish pressure following an upward trend line and living a lot of room for significant movements. While approaching the demand level, an exhaustion can be noticed broaden by the decreasing daily traded volume. Nonetheless, odds of a breakout and bearish continuation remain medium/high.

Possible Targets: 52.000 (-4 points)

Advice: Stay bullish and buy every low points while we don't break upward 58.000.
Note
snapshot
Oil follows a narrowing range around the demand area, delighting an upcoming volatility and breakout.
Trade closed: target reached
Bearish PatternsChart PatternsCrude OilEnergy CommoditiesHarmonic PatternsSELLTrend Analysis
Theperfectionist

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