Bruce_WTI_Forecast

Fibonacci Support and Breakout Signal Yesterday’s decline completed a 61.8% Fibonacci retracement of the recent upswing, helping stabilize…

Key Support and Moving Averages Support on Tuesday appeared near the 10-Day moving average, now at $63.79. This…

Support and Downside Targets The recent swing low of $62.19, recorded last Wednesday, marks critical near-term support. A…

Resistance from Prior Price Zones and Key Averages The short-term path higher is challenged by a resistance band…

Bearish Weekly Structure Signals Further Downside Risk The 61.8% Fibonacci level at $64.46 had been acting as initial…

Weekly Breakdown Triggers A potential bearish scenario includes a breakdown from the weekly shooting star triggered today with…

Five-Week High Breakout Earlier in the week crude oil triggered a bull breakout to a five-week high of…

Short-term Target Reached Nonetheless, today’s high of $70.60 was a successful test of resistance around a prior support…

Reversal From 50-Day Moving Average The 50-Day MA is a key trend indicator for dynamic support for crude…

20-Day Line Turned Down Notice that the top of the flag shows resistance around the 200-Day MA (blue)…

Bouncing from Strong Support Support around last week’s swing low was marked by the confluence of an AVWAP…

Sitting at Strong Support Regardless of the potential for a deeper correction there is reason to believe that…