Stock market - WTI Crude Oil Analysis on 10/07/2024 - Cautiously bullish above $73.50

How to trade WTI today? What are the price targets on WTI?
What economic news is impacting the crude oil market?
👉 Watch the WTI Crude Oil stock market video by Trading Central's technical analysis experts!

00:00 Crude Oil WTI Technical Analysis Today with Targets
The technical outlook is cautiously bullish.
Crude Oil WTI posts a pullback, but the intraday support level at $73.50 remains intact.
As long as support level at $73.50 holds on the downside, the further bounce to ..
01:06 Crude Oil WTI Stock Market and Economic News Today
Baker Hughes reported that the total number of rotary rigs in the U.S. dropped to..
Investors should continue to monitor the geopolitical risk in the Middle East.

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How to read a Technical Analysis?
• Pivot Point (blue horizontal line): A key figure in technical analysis, it represents the important psychological level which, if reached, will invalidate the current strategy
It can be used as a level on which to place a stop loss
• Our preference: the scenario favored by Trading Central, materialized on the chart by a blue directional arrow
• Alternative scenario: the scenario that will be favored if the pivot point is reached
• Supports (red horizontal lines) and resistances (green horizontal lines) on all our charts
• Last: The last quoted price at the time of reporting
• The time horizon: at the top left of the graph, you will find the time horizon on which the analysis was carried out:
30 min: 1 bar on the chart represents 30 min of trading. Forecasting on a horizon of about 10 hours

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