Technical analysis: WTI crude oil prices showed a clear oversold signal on July 17

July 17th, the latest view of analysts at Economies today: WTI crude oil prices fell sharply some time ago, breaking through 76.10 and falling to the support line of the bullish channel. It is worth noting that EMA50 meets the support line of the channel, and the stochastic index Shows a clear oversold signal.

Therefore, we see a short-term rebound as bullish, waiting for a test of 76.10 first, note that a break above this level would push the price towards 77.70 as the next major target, while a break below 74.45 would represent a negative factor that would push prices further down in the future.

Today’s expected trading range is between 73.40 support and 76.50 resistance.