WTI Oil is in a short-term uptrend within a rising price channel.
The commodity has pulled back and is consolidating – its next move could be critical.
A move below the range lows could flip the trend bearish; a rise above the March high bullish.
WTI Oil price (OIL) is trading within an ascending channel whose rising peaks and troughs indicate the commodity is in a short-term uptrend.
Given the old adage that “the trend is your friend till the bend at the end,” the price is favored to continue rising in the short-term until the weight of evidence suggests it has reversed
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