West Texas Intermediate (WTI) bullish hammer posted awaits confirmation

December 3, 2021 - 2 months ago
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West Texas Intermediate (WTI), the benchmark for New York-traded crude oil choppy price action, has posted a daily Japanese hammer candlestick. This, in terms, is a bullish signal that awaits confirmation.

A close above the $68.40-55 should ignite the upside move and stage a correction back to $73.50-80.

With a neutral assessment in place (in the short term), the technical call awaits bullish confirmation.

However, failing to confirm the bullish signal would revert the direction back to the (measured) target viewed to $61.80-95.

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