8:19 AM · 24 June 2020

Technical analysis: OIL.WTI

Oil market has been trading in an upward trend recently. However, price did not manage to stay above the high from 8th June and a double top pattern may be on the cards. The $39.5 handle is a key support for now. If sellers manage to break below, a bigger downward correction may start. On the other hand, bouncing off the support may trigger another upward impulse.

OIL.WTI H4 interval. Source: xStation5

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