bearish
Energy | Jul 20, 2023
SUMMARY
- On May 4, 2023, WTI futures experienced a significant drop of 6.58% before closing with a slight gain of 0.66%.
- Creating a bull flag reversal pattern, but prices did not make higher highs or higher lows in the following weeks.
- Therefore, a more stable, extended base formation was necessary instead of a quick V-shaped recovery.
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