WTI Price Forecast: Bearish Breakdown Raises Downside Risk
Reclaiming Resistance Is First Test for BuyersKey support is at Tuesday’s low of $84.44, and if it fails to hold, a confluence support zone is indicated from $82.67 to $81.40. There is also a rising trendline that may enhance this price zone, depending on when and how quickly it is reached. That trendline has significance and therefore presents a potentially formidable dynamic support zone. However, a break below Tuesday’s low would increase the likelihood of a deeper decline toward this confluence support, ...