$WTICOUSD $USO Oil Approaching Key Support
WTICOUSD continues to be pummeled by global macro headwinds. such as a slowing global economy, decreasing global demand, and the ratcheting up in trade rhetoric between the US and China.
Given this setup, WTICOUSD is trending downward towards its key Weekly Support Level of $52.422. WTICOUSD has seen steady rallies from this point in the past, however, given the current macro headwinds, this time could be different.
Keep an eye on prices around this level. If WTICOUSD breaks its Weekly Support Level $52.422, we could see prices going much lower.
Given this setup, WTICOUSD is trending downward towards its key Weekly Support Level of $52.422. WTICOUSD has seen steady rallies from this point in the past, however, given the current macro headwinds, this time could be different.
Keep an eye on prices around this level. If WTICOUSD breaks its Weekly Support Level $52.422, we could see prices going much lower.
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.