{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/us-oil-deeper-decline-favored\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/us-oil-deeper-decline-favored\/","headline":"US Oil Deeper Decline Favored!","name":"US Oil Deeper Decline Favored!","description":"US Oil drops right now and it stands at the 70.13 level. Unfortunately, it has found strong resistance and now it could resume its downwards movement. In the short term, WTI moves sideways, so we have to wait for confirmation before taking action. The US Crude Oil Inventories will be released later today. The indicator […]","datePublished":"2021-08-04","dateModified":"2021-08-04","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/#Person","name":"Olimpiu Tuns","url":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/","identifier":19876,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/08\/us-oil.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/08\/us-oil.png","height":887,"width":1828},"url":"https:\/\/forexschoolonline.com\/us-oil-deeper-decline-favored\/","about":["US Oil"],"wordCount":161,"keywords":["Trade Setup","us oil","WTI Oil"],"articleBody":"US Oil drops right now and it stands at the 70.13 level. Unfortunately, it has found strong resistance and now it could resume its downwards movement. In the short term, WTI moves sideways, so we have to wait for confirmation before taking action.The US Crude Oil Inventories will be released later today. The indicator is expected at -3.2M versus -4.1M in the previous reading period.US Oil Technical Analysis!US Oil failed to stabilize above the minor ascending pitchfork\u2019s median line (ml) and above the daily pivot point (70.44) signaling strong sellers. Making a new lower low, dropping below 70.05 could signal a deeper decline.Technically, the ascending pitchfork\u2019s lower median line (lml) is seen as a potential downside target, an obstacle if the price may drop. Note: ForexSchoolOnline is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}