WTI crude looks poised for breakdown

2024年11月27日

WTI has held the key resistance level of $69.30 today, marking a pivotal level on the intraday charts. Here, the resistance trend of the bear channel also came into focus. With support at 68.60/68.70 area broken, this level is now the most important short-term resistance to watch now. I think if we get a retest of this level from underneath, it could get sold and cause prices to drop to take out liquidity resting below the most recent low at 68.06. My next downside target would be $67.00.

News of ceasefire between Israel and Hezbollah has helped to weigh on prices, potentially a positive step towards regional stability.

2月11日

注释

By Fawad Razaqzada, market analyst with FOREX.com