WTI Oil Futures Hit Yearly Lows; Bias Negative

WTI oil futures entered the red zone following the rejection near the 20-day simple moving average (SMA), stretching their 2022 downtrend to a new yearly low of 71.75 on Wednesday. The 38.2% Fibonacci retracement of the 2020-2021 upleg proved to be a tough obstacle too near 83.20. The four-day bearish streak could see a continuation, […]

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