WTI/USD - Week 1 - Fossil fuels depreciation?

Crude Oil had a slow week leading up to New Year’s Eve. We anticipate that the price will start to fall into a deeper consolidation. Currently, the price is moving around in the middle of the channel as we expect the bears to take control of the market in the near future. It may or it may not make a new high, but if we breach the parallel channel and the first liquidity area, chances are that the price may test the 45$ area, with a possibility for the barrel rate to hit the low 40s area. Currently our focus is aimed towards selling Oil.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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