Crude Oil WTI Futures Is Assessing Short-Term Rebound Potential

$WTI Crude Oil - main 2401(CLmain)$ $Micro WTI Crude Oil - main 2401(MCLmain)$

Crude Oil WTI Futures Weekly Trend Analysis:

Entering the Bearish Zone 11 weeks ago, the market has been experiencing a downward trend. In the short term, the selling pressure is gradually weakening, indicating a potential rebound trend with $70 as a support level. It seems likely that we may see a shift towards a rebound trend in the coming 1-2 weeks as selling intensity diminishes. At the current juncture, the anticipated upward target in the rebound trend is $75, showcasing a restrained upward momentum.

Looking at the medium to long term, the expected rebound trend does not appear to exhibit a strong buying force to enter the Bullish zone. As we approach the end of December and the beginning of January next year, a return to a downward trend is anticipated. Consequently, an overall weak trend within the Bearish zone is expected, characterized by a consolidating market.

It is advisable to closely monitor key news and geopolitical factors influencing oil price fluctuations to assess whether there could be a change in the trend. Making informed decisions based on observations of factors that can impact the market dynamics is crucial.

https://www.pretiming.com/2023/12/crude-oil-wti-futures-weekly-analysis.html

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In the short term, the selling pressure is gradually weakening, indicating a potential rebound trend with $70 as a support level. It seems likely that we may see a shift towards a rebound trend in the coming 1-2 weeks as selling intensity diminishes. At the current juncture, the anticipated upward target in the rebound trend is $75, showcasing a restrained upward momentum.</p><p style=\"text-align: start;\">Looking at the medium to long term, the expected rebound trend does not appear to exhibit a strong buying force to enter the Bullish zone. As we approach the end of December and the beginning of January next year, a return to a downward trend is anticipated. Consequently, an overall weak trend within the Bearish zone is expected, characterized by a consolidating market.</p><p style=\"text-align: start;\">It is advisable to closely monitor key news and geopolitical factors influencing oil price fluctuations to assess whether there could be a change in the trend. Making informed decisions based on observations of factors that can impact the market dynamics is crucial.</p><p>https://www.pretiming.com/2023/12/crude-oil-wti-futures-weekly-analysis.html</p></body></html>","htmlText":"<html><head></head><body><p> <a data-mention-id=\"CLmain\" class=\"teditor-mention\" data-mention-name=\"WTI Crude Oil - main 2401\" href=\"https://ttm.financial/FUT/CLmain\">$WTI Crude Oil - main 2401(CLmain)$</a>  <a data-mention-id=\"MCLmain\" class=\"teditor-mention\" data-mention-name=\"Micro WTI Crude Oil - main 2401\" href=\"https://ttm.financial/FUT/MCLmain\">$Micro WTI Crude Oil - main 2401(MCLmain)$</a> </p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/abbc9ea718b70c9222a295f5711c8cd9\" tg-width=\"1427\" tg-height=\"937\"></p><p style=\"text-align: start;\">Crude Oil WTI Futures Weekly Trend Analysis:</p><p style=\"text-align: start;\">Entering the Bearish Zone 11 weeks ago, the market has been experiencing a downward trend. In the short term, the selling pressure is gradually weakening, indicating a potential rebound trend with $70 as a support level. It seems likely that we may see a shift towards a rebound trend in the coming 1-2 weeks as selling intensity diminishes. At the current juncture, the anticipated upward target in the rebound trend is $75, showcasing a restrained upward momentum.</p><p style=\"text-align: start;\">Looking at the medium to long term, the expected rebound trend does not appear to exhibit a strong buying force to enter the Bullish zone. As we approach the end of December and the beginning of January next year, a return to a downward trend is anticipated. Consequently, an overall weak trend within the Bearish zone is expected, characterized by a consolidating market.</p><p style=\"text-align: start;\">It is advisable to closely monitor key news and geopolitical factors influencing oil price fluctuations to assess whether there could be a change in the trend. Making informed decisions based on observations of factors that can impact the market dynamics is crucial.</p><p>https://www.pretiming.com/2023/12/crude-oil-wti-futures-weekly-analysis.html</p></body></html>","text":"$WTI Crude Oil - main 2401(CLmain)$ $Micro WTI Crude Oil - main 2401(MCLmain)$ Crude Oil WTI Futures Weekly Trend Analysis: Entering the Bearish Zone 11 weeks ago, the market has been experiencing a downward trend. In the short term, the selling pressure is gradually weakening, indicating a potential rebound trend with $70 as a support level. It seems likely that we may see a shift towards a rebound trend in the coming 1-2 weeks as selling intensity diminishes. At the current juncture, the anticipated upward target in the rebound trend is $75, showcasing a restrained upward momentum. Looking at the medium to long term, the expected rebound trend does not appear to exhibit a strong buying force to enter the Bullish zone. As we approach the end of December and the beginning of January next year, a return to a downward trend is anticipated. Consequently, an overall weak trend within the Bearish zone is expected, characterized by a consolidating market. It is advisable to closely monitor key news and geopolitical factors influencing oil price fluctuations to assess whether there could be a change in the trend. 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