WTI bulls are lurking within the Fibonacci scale.
is trading back to $74.50 and within the day´s range of between $74.92 and $72.07 the low. The following illustrates the technical outlook at this juncture:The double bottom is a bullish feature on the longer-term charts with the price coiled within a falling bullish wedge formation. The price has pulled back into the gap but remains on the backside of the prior bearish trendline. This leaves scope for a move up from within the Fibonacci scale in due course.
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