Weekly Technical Perspective on Crude Oil Prices (WTI)

In this series we scale-back and take a look at the broader technical picture to gain a bit more perspective on where we are in trend. Crude oil has rallied more than 11% off the August lows with prices now approaching topside resistance targets. Here are the key targets invalidation levels that matter on the Crude Oil weekly chart. 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: Crude oil has continued to trade within the confines of a well-defined ascending pitchfork formation extending off the 2016 lows with prices rebounding from support at the lower parallel last month. In my previous Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/scalping_report/2018/09/25/Weekly-Technical-Perspective-on-the-Crude-Oil-WTI-Price-Forecast-Chart-Outlook-MBCS.html