Oil: WTI Technical Outlook
The U.S. crude benchmark is expected to bounce around in the $75 to $67 region in the coming week, chief technical strategist at
“We expect sideways moves within the broader range of the Weekly Middle Bollinger Band of $74.90 as the resistance zone and the 200-week SMA, or Simple Moving Average of $67.25, as the horizontal support zone,”
He added that the Weekly Stochastics reading at 32/39 indicated a lack of bullish momentum.
