I know that many of you are struggling with making long-term predictions on wti. being fundamental trader or technician, the future right now is unknown.
the only thing that we must admit for now is that the market is currently consolidating. we broke below the uptrend parabolic channel and now we are trading within a wide horizontal daily range.
in my view, a breakout of that range will show the future direction of the market.
I remain bearish biased and stick to a bearish scenario. It looks like the market is preparing for a drop after a retest of a broken channel + second corona wave at least in europe looks unavoidable.
but we will see!
share in the comment section what you think will happen!