We have a bearish movement on Daily chart and the price is approaching another support area (48.5). I think that the price will break down this obstacle on medium term but we can have a pull back on short term. If this support will stop the bearish momentum then the price will move sideways. We have an important resistance at 54.91. WTI Oil is bearish on long term and I think that this descending trend will continue, the price can decrease below the major support from 43.89 – 44.10 and might fall also below $40 / barrel.

wti oil

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