Direct from the desk of Dane Williams, This is not your average forex broker blog.

Following WTI's dip below $20, the Saudis and Russians have now come to somewhat of a deal.

Russia is reportedly ready to agree to Oil output cuts, alongside Saudi Arabia and other major producers, meaning price has had a rocket put under its artificially subdued arse.

WTI smashed back up to $28, printing a record move into a previous cluster of daily support now turned resistance.

WTI Daily:

But for a real clear indication of where price is at, check out the weekly chart.

WTI Weekly:

You can see that there's been zero technical damage done to higher time frame resistance and all that tells us, is that the bears remain in full control.

Best of probabilities to you,

Dane.

Return from WTI Bears Remain in Full Control to forexbrokr's Web3 Blog