Showing posts with the label Crude Oil WTI Futures

Crude Oil WTI Futures Weekly Analysis: Assessing Short-Term Rebound Potential.

Crude Oil WTI Futures Weekly Trend Analysis: Entering the Bearish Zone 11 weeks ago, the market has been experiencing a downward trend. In the short term, the selling pressure is gradually weakening, indicating a potential rebound trend with $70 as a support level. It seems likely that we may see a shift towards a rebound trend in the coming 1-2 weeks as selling intensity diminishes. At the current juncture, the anticipated upward target in the rebound trend is $75, showcasing a restrained upward momentum. Looking at the medium to long term, the expected rebound trend does not appear to exhibit a strong buying force to enter the Bullish zone. As we approach the end of December and the beginning of January next year, a return to a downward trend is anticipated. Consequently, an overall weak trend within the Bearish zone is expected, characterized by a consolidating market. It is advisable to closely monitor key news and geopolitical factors influencing oil price fluctuations to assess w

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