Crude Oil: WTI Extended, but Has Generally Bullish Technical Outlook
WTI crude oil continues to rally within channel formation May be in for a pullback/consolidation, using channel as guide Advertisement WTI crude oil remains in bullish channel WTI crude oil is on the extended side, but remains within the confines of a well-defined channel structure that keeps it pointed higher. With that in mind, we may see a pullback develop here soon that will alleviate any short-term overbought conditions that exist, but the outlook is generally bullish. A pullback to the lower trend-line could offer would-be longs an opportunity to enter and have a threshold from whic...
Source: menafn.com