Major and minor downward trend intact (August 14 reversal: break of upward chanel: MACD cross, breach of RSI14 50 level) confirmed following the breakout of short-term triangle consolidation (August 18 to 24).
Fundamentals - Changing mix of WTI consumption - EVs coming sooner than late - Pretrochemical products inventories pilling - forget OPEC deal cut.
Technicals - Indicators to watch: - RSI14 back to 30 levels - Next MACD cross in negative territory - Watch for Fibonacci levels for support at 42 and 36 going into September and October - EURUSD consolidation to contribute to pressure on WTI