US OIL (WTI/USD) – Week 14 – Medium-term bearish.
On Thursday, the OPEC+ alliance decided to gradually increase the production starting from May in order to keep crude oil prices in check.
Last week, WTI corrected and almost reached the resistance target that we forecasted in our previous analysis.
Next week, we expect the price to reach the resistance area highlighted on the chart, before falling towards to support area located in the mid-’50s.
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.
Last week, WTI corrected and almost reached the resistance target that we forecasted in our previous analysis.
Next week, we expect the price to reach the resistance area highlighted on the chart, before falling towards to support area located in the mid-’50s.
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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