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MACRO VIEW: WTI OIL IS TESTING ITS DOWNTREND!

MACRO VIEW: WTI OIL IS TESTING ITS DOWNTREND!

Crude Oil WTI NYMEX:CL1!

WTI OIL tagging its relevant downtrend border first time since it started its descend back in July, marked by lower 1st standard deviation from quarterly (66-day) mean.

If the price manages to break above the border, chances are the downtrend is over (or at least current leg of it).

Full stop of the downtrend, however, can only be declared when the price trades above the quarterly mean.