WTI Crude Oil Forecast: Bounces After Initial Plunge

  • The West Texas Intermediate Crude Oil market has fallen rather hard during the trading session on Monday but then turned around to show signs of life.
  • The market ended up forming a bit of a hammer, and the hammer sits just above the $90 level.
  • The downtrend line just above is part of a “falling wedge”, and therefore breaking above there could kick off a move to the upside.

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