WTI, H4 | POTENTIAL REVERSAL?

WTI crude oil has been experiencing bearish momentum lately, potentially leading to a bearish reaction off the first resistance at 70.38 and a drop towards the first support at 67.02. The second support level at 64.36 is also expected to act as support due to its multi-swing low status. The first resistance level at 70.38 is an overlap resistance, with the second resistance level at 73.40 being a 50% Fibonacci retracement level. There is also an intermediate resistance level at 69.75. Overall, the chart's momentum is bearish

Analysis are provided by InstaForex

Read More https://ifxpr.com/3yVhOTN