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WTI Price Analysis: Bears attack $77.50 with eyes on monthly bottom
WTI crude oil remains bearish around $77.50 during early Thursday, after falling the most since late September the previous day. The black gold’s weakness could be linked to the downside break of an ascending trend line from December 2021, around $78.80 by the press time. Also keeping the WTI sellers hopeful are the downbeat MACD signals and the confirmations of the “double top” bearish chart formation, by a clear concurrence of the $81.30 horizontal support. Considering the aforementioned catalysts, the downward trajectory monthly low surrounding $75.30 is on the cards but the nearly oversold RSI (14) may ... (full story)