AllTechnical Analysis
logoArgusSeptember 14, 2021

Technical Assessment: Bullish in the Intermediate-Term

Intermediate Term
Long Term
Summary

Back on August 25, with West Texas Intermediate (WTI) near $68/barrel, we said it looked like crude had completed a false breakdown, which made it very likely that the correction was over. WTI had hit one of our targets based on a three-wave ABC decline which targeted $62, and that was basically the bottom. Since then, WTI rallied up to the $70 region, paused for about a week, and looks to be breaking out.

Subscribe to Yahoo Finance Plus Essential for full access
Exclusive reports, detailed company profiles, and best-in-class trade insights to take your portfolio to the next level
Try it Free