US OIL (WTI/USD) – Week 26 – Losing bullish momentum.
Last week, we were expecting the US Crude Oil price to lose some value. Instead, the price slowly followed the upper wedge line, reaching new yearly highs. This is a sign that a bearish move is just around the corner, as the price slowly loses bullish momentum.
For next week, we expect the price to reach the support area highlighted on the chart.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For next week, we expect the price to reach the support area highlighted on the chart.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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