WTI Crude Oil Pennant
WTI is in the midst of a Symmetrical Pennant, being the 6th Leg.
If the pattern plays out, we can expect Crude Oil to be in a range between
the 786 and 886 Fibonacci retracement. That is a price of 74.18 - 75.42.
Of interest will be the break
1. Downside break will see targets of 68 and 63.
2. Upside break will have 84, 88, 96.
For the next 2 weeks, the outlook remains bearish.
If the pattern plays out, we can expect Crude Oil to be in a range between
the 786 and 886 Fibonacci retracement. That is a price of 74.18 - 75.42.
Of interest will be the break
1. Downside break will see targets of 68 and 63.
2. Upside break will have 84, 88, 96.
For the next 2 weeks, the outlook remains bearish.
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