West Texas Intermediate (WTI) choppy session ends posting a bearish outside range day

October 22, 2021 - 1 month ago
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West Texas Intermediate (WTI) oil bull-trend staged a sharp reversal on Thursday and posted a bearish outside range day that now awaits confirmation, which is viewed from a break and close beneath $78.70-90.

If confirmed, it should provide a measure move towards the $74.60-$75.10 region.

Until then, the view is neutral.

Little resistance is assessed until $87.00 to $91.00 a barrel.

This week, oil rallied to the highest level since 2014 as a global energy crunch coincided with a broader economic recovery from the pandemic.

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