WTI BEARISH OUTLOOK

WTI reached its 8 months low, after the spike in price from the invasion in Ukraine. Investors are afraid that combination of increasing interest rates and high inflation will slow down the economy, from there and the demand for crude oil. The economic slow down of China has also put a down pressure on the oil price.

Technical indicators are also placing WTI into bearish scenario, with MACD under the 0 line and RSI under the 50 neutral line.

If the trend continues, the price might reach levels of 67.5 In opposite scenario, however, the price might test its previous high of 89.5

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