WTI Crude looks like it wants to move higher. This morning it traded right up to its downtrend, roughly $40.55, and retreated from there a few hours ago. WTI was trading over $60/bl at the start of this year, and this $40.55 level is currently where that downtrend is. There’s also a gap to fill @ 42.33.
Oil always has many elements dictating its price – but looking at technicals alone – this looks like a constructive chart, especially over $40.55.
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