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WTI Price Analysis: Bullish H&S in the making on daily chart
West Texas Intermediate, WTI, crude oil ended higher on Wednesday as a report showed an unexpected drop in US inventories while China's imports rose last month. Nevertheless, the bulls remain in good stead as per the following technical analysis: chart We have an inverse head and shoulders which is bullish. chart Pulling the chart across to see the impulse correction and what could now be another bullish impulse in the making, we can see that the market is supported at a 61.8% Fibonacci retracement level. This too is bullish. chart The 4-hour chart shows the price has breached prior resistance that could now ... (full story)