WTI Oil is currently on a major supported and the price has been respecting the uptrend line. It is forecasted to breakout to the downside according to the technical analysis as the bulls are running out of steam in addition to the major resistance handle. However, if the price breaks through the 52.50 handle, another setup will be posted.
Trade Levels: - Entry Price @ 51.90 - Stop Loss @ 52.70 - Take Profit @ 50.20 - Risk/Reward: 2.15