WTI found resistance at 77 after another rally at the beginning of the week.
While the oil prices have been on the rise through December, it is becomingly obvious that this is part of a pullback for the bearish trend that formed through November previously.
The price has also came down on the last trading day which did cause some breakdown of its current bullish structure.
This week, we will be waiting to sell the pullback from 76.20 onwards, aiming for 73.
P.S. Give a thumbs up if you like our idea:)
Do follow us as we will be providing daily trading ideas as a continuation to our weekly forecast. Cheers!
While the oil prices have been on the rise through December, it is becomingly obvious that this is part of a pullback for the bearish trend that formed through November previously.
The price has also came down on the last trading day which did cause some breakdown of its current bullish structure.
This week, we will be waiting to sell the pullback from 76.20 onwards, aiming for 73.
P.S. Give a thumbs up if you like our idea:)
Do follow us as we will be providing daily trading ideas as a continuation to our weekly forecast. Cheers!
