CRUDE OIL (WTI) Mid Term Outlook

15 feb 2023

Current we can see Crude Oil's price action is in the middle of a consolidation correction.

After from the initial push down from the price, market begin to form a larger structure to correct the down move.

We can see now with a few swing highs and lows, a parallel channel like structure is being created.

However, it looks like theres a potenital short term move up first to the top of the structure, before the bigger down move can begin.

For now, its best to wait and see whether we can see a short term up move first, and if it does,
the bigger play is for the downside if the reveral bearish price action is confirmed on the lower time frame.

Thank you

Jojo