Crude Oil Plunges Into Bear Market | WTI Crude Technical Analysis
WTI nearing its channel support after a sharp 22% fall. Channel support zone lie around USD55-57. The Support area also coincides with 71 week cycle in play. Failure to hold the support zone could result more downside pressure.
Copper Breakdown continues to unravel as previously mentioned in our post
Brent Crude Oil- Has closed outside the channel and is now resisting the lower channel boundary.
Brent Crude Oil-Trading in a rising price channel and hit the lower channel support recently. Good pullback from the channel support line.