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Oil Price Technical Forecast: Crude Plunge Threatens Major Break

September 1, 2022


Crude oil prices plunged more than 30% off the June highs with WTI spilling into a key technical support zone. Despite a steep weekly sell-off and a range of nearly 11%, oil continues to trade just above this critical zone for the fifth-consecutive week – this is a BIG moment for crude heading into the September open. These are the updated targets and invalidation levels that matter on the oil price weekly technical chart. Review my latest Strategy Webinar for an in-depth breakdown of this crude oil price technical setup and more.

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