🚨 OIL SELLERS ARE STILL IN CONTROL — BUT WATCH THAT OVERSOLD SIGNAL! 👀
Quick breakdown: $WTI.US
showed strong bearish pressure in our 2 Nov chart snapshot — all 12 moving-average signals were on Sell, MACD was negative and RSI near 17 indicated deeply oversold conditions.
MarketLens Take: Sellers have the momentum, but chasing an extended drop can be risky; 96.64–96.17 is the key support zone, while 97.78–98.45 is the resistance area to watch for a possible relief bounce.
US–Iran talks have raised hopes of easing Hormuz supply risks, but no final agreement is confirmed. We bring the news and chart context — how you interpret the market is your call. What's your read: more downside or a bounce? 👀
— MARKETLENS | SEE BEYOND THE PRICE.
#MarketLens #WTI #CrudeOil #UKOIL #natgas
Quick breakdown: $WTI.US
showed strong bearish pressure in our 2 Nov chart snapshot — all 12 moving-average signals were on Sell, MACD was negative and RSI near 17 indicated deeply oversold conditions.
MarketLens Take: Sellers have the momentum, but chasing an extended drop can be risky; 96.64–96.17 is the key support zone, while 97.78–98.45 is the resistance area to watch for a possible relief bounce.
US–Iran talks have raised hopes of easing Hormuz supply risks, but no final agreement is confirmed. We bring the news and chart context — how you interpret the market is your call. What's your read: more downside or a bounce? 👀
— MARKETLENS | SEE BEYOND THE PRICE.
#MarketLens #WTI #CrudeOil #UKOIL #natgas
