This article was posted on Wednesday, 16:05, UTC.
Oil: Short-Term Sell WTI Crude Oil Futures, 4-Hour Chart Analysis The crucial commodity hit the $49 per barrel level at the end of last week, and since then has been in a weak correction that took it up to the crucial $50 level. The global rally in risk assets and the weakness of the Dollar wasn’t enough to cause a bounce in oil, and this relative weakness hints on a new leg lower in the short-term downtrend. The re-test of the $47.10 low looks likely if the commodity dips below $48.75 with no strong support level found below that….
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Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.