Technical cheat sheet: Hold or bullish for WTI?
WTI is the next market in our latest Technical Cheat Sheet video, where key technical indicators are mostly neutral but traders majority to the buy side.
Clients on our end continue to look for an opportunity to remain to the buy side in WTI even as they range-trade oscillatory moves when they present themselves, and in the latest Technical Cheat Sheet (TCS) video we take a look at where they stand and how they got there, in comparison with extreme buy bias among CoT speculators. The technicals are neutral if not conflicting when it comes to the daily time frame and neutral with a touch of positive bias on the weekly, but not enough to shift the overviews just yet. Levels have narrowed since the last TCS video on WTI, as both intraday and intraweek volatility has fallen a bit. Lastly, we go through fundamental updates for both oil demand and supply following monthly oil reports and economic data.
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