$WTI = $Oil – Weekly Analysis = 12.09.2021 #WTI #investing

I mentioned two weeks ago that a few signs suggested that the correction in oil is not over. While $WTI closed on Friday with seemingly bullish candles, there are several concerns about the supporting factors. Let’s explore the hypothesis from the different perspectives.

CANDLES

Weekly
The weekly candle is green and even closed above 8 EMA. However, its shape of a Hanging Man, a sharply smaller volume and a failure to hit a new high above the previous week’s one suggest that this candle is more bearish than bullish.
However, after looking at the daily candles, one can say that the daily candle, for example, is a very bullish Engulfing.

If you would like to continue reading, please subscribe for Premium Content.

Premium Content

Read more of this content when you subscribe today.

Previous Weekly


One thought on “$WTI = $Oil – Weekly Analysis = 12.09.2021 #WTI #investing

Comments are closed.

%d bloggers like this: