Crude Oil Price Outlook: WTI Catches Support at $50- Can It Hold?

In this series we scale-back and look at the broader technical picture to gain a bit more perspective on where we are in trend. Crude oil has plummeted a staggering 33% from the yearly highs registered just last month with prices poised to snap a seven-week losing streak after rebounding from nearby confluence support. Here are the key targets invalidation levels that matter on the Crude Oil (WTI)weekly chart heading into the close of the month. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

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Crude Oil Weekly Price Chart (WTI)

Crude Oil Price Chart - WTI - Weekly

Notes: Earlier this month our ‘bottom line’ highlighted that crude

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/scalping_report/2018/11/28/Crude-Oil-Price-Outlook-WTI-Catches-Support-at-50--Can-It-Hold-Weekly-Chart-Forecast-MBCS.html