Hello everyone,
WTI Oil 4H NEW FORECAST
The price of oil begins today's trading with noticeable negativity, breaking the 83.90 level and settling below it, heading towards a new bearish correction during the coming sessions, targeting the 82.88 areas as the next main stop.
Therefore, a bearish bias will be likely for today unless the 83.90 level is breached and holds above it, as this breach will stop the current negative pressure and lead the price to attempt to restore the main upward trend again.
The expected trading range for today is between the support at 81.70 and the resistance at $84.60