On the OIL.WTI chart situation had become very serious. Today uptrend line was broken, which has been respected by the price of oil starting since February. Bulls should also be disappointed with the style in which was this breakthrough made, without any attempt of corrective rebound. In addition, in the area was located 46.50 support, which overlapped the trend line, so the demand had in this region more reasons to buy, but did not use those opportunities.
The situation can not be completely forgone, because closing of the daily candle will be very important for WTI crude. It should be recalled that today the markets will know the data on crude oil inventories in the US, and FOMC decision on interest rates. The first event strongly affect the price of oil, while the second event which will appear on the US dollar may also significantly affect the price of oil. However, if the demand was not able to go above the level of 46.50 , the next targets for supply are at levels: 44.50, 43.00, 39.50 with a very probable test of 43.00 support in the coming days.
