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Monday, May 17, 2021

WTI Oil : Possible continuation of 63.20-66.50 daily range

WTI Oil : Possible continuation of 63.20-66.50 daily range

WTI CRUDE OIL TVC:USOIL

A strong movement is very unlikely at the moment regardless of the tensions in middle east . Price likely to continue above the 50 day exponential moving average and possible stop loss hunts above 66.50 are on cards since the SSI is less than 25%.however,on medium term we are looking at a test of minor retrace towards the 57 handle .


Trend : Range
Signal : Scalp inside 63-67 rectangular range
Medium term : A test towards 57 handle is possible



from TradingView Ideas https://ift.tt/3bwwI7D
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