CRUDE OIL (WTI/USD) – Week 3 – Red week ahead?

Oil futures, which rose the entire week, traded sharply lower in Friday’s session on a weak dollar and strong Chinese import data. As investors weigh fresh COVID-19 outbreaks in China, we expect a bearish move to start soon in order to continue its weekly bullish momentum. Keep in mind that there is a slim possibility that the price will increase and break the top again, but our focal point for this week will be the bear market.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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