Technical Analysis of Crude Oil(WTI)

Crude oil prices spiked in Asia on Tuesday as elements come together to at least consider a cut in crude output by major producers.

Most Likely Scenario:- Long above @30.12 with target 33.31 for further Extension

Alternative:- Short Below @30.12 with target 28.88 for further retracement.

RSI and Moving Average give a bullish indication for Crude Oil.

Trend Pattern:- Triangle Pattern which gives bullish indication.

Candlestick Pattern:- Piercing Line Pattern

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