USOIL WTI CFD Weekly - 27 - 31 July 2020

WTI (futures on Nymex) has bounced-off a dip below the 41 mark and remains on track to book the third straight monthly rise. The further upside, however, remains at the mercy of the broader market sentiment and the US supply-side scenario.

Price hovering around median line level and looking a range trade towards support lower line key level for this week, a break below lower line a confirmation of bear market