Outlook on WTI After Price Remains Range-Bound
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I've been following WTI for a while now. Since the price tested the key resistance around $83-84, I've seen selling pressure push it back down, which has been a recurring pattern over the past few months.
Currently, it seems the price is trying to hold above $78-79, a zone where buyers have previously stepped in to push the price up. However, looking at the broader picture, I think there's still high uncertainty. Especially if WTI breaks below $78, I see a possibility of it testing $75 or even lower. This is a point that needs special caution, and it's where my bullish outlook would be completely invalidated. But if it can maintain above $78-79, we might see another test of $83-84, though it seems like it would be a tough climb.