Interesting chart for WTI with a nice daily downtrend and 4hr counter trendline + support level for a breakout. This is further supported by the OPEC production hike, would like to see a higher inventories reading too.
Things that could negatively effect this position are sanctions being put on Russia or countries buying oil from Russia as well as continued geopolitical tensions support price.
Things that could negatively effect this position are sanctions being put on Russia or countries buying oil from Russia as well as continued geopolitical tensions support price.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.