WTI Crude Oil Technical Analysis and Short-Term Forecast
WTI crude oil is still poised to reach at least $73.7 and ultimately the next major objective at $75.0. However, today’s bearish doji warns that a test of support will probably take place first. Moreover, Kase StatWare formed a bearish KasePO (momentum) divergence and a short warning signal on a $0.35 Kase Bar chart. Support at $72.1 will likely hold and $71.2 is key support for the near term. Closing below $71.2 will confirm the bearish doji and shift near-term odds in favor of $70.6 and likely a test of $69.8 before the move up continues.
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