Intermediate downtrend for WTI

West Texas Intermediate broke near-term support around $65. It is trading below the 200 day simple moving average and the next major test is around $55 to $57.50.

West Texas Intermediate weekly three-year chart showing the intermediate downtrend.

Reference the last chart analysis for WTI.

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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
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