AllTechnical Analysis
logoArgusSeptember 15, 2020

Technical Assessment: Bullish in the Intermediate-Term

Intermediate Term
Long Term

After trading sideways in a very tight range during the summer, crude oil (WTI) has rolled over a bit. We thought this tight action was bullish, after WTI made an incredible recovery from an intraday low of $6.50/barrel on April 21. The absence of a pullback after a massive recovery looked like it was setting up for another run to the upside. Not so fast!

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