WTI technical analysis: next major target is located at 14th Jan 50.65

• Price broke through the daily doji and extended its descent below the 200 W EMA.
• The weekly stochastics remain bearish while the reversal of the December commencing rising channel that ended on 22nd May ploughs on. 
• The next major target is located at 14th Jan 50.65 low ahead of the 26th November lows at 49.44. 
• Between these levels, we have the descending wedge patter's support around 49.70/50.00. 
• On the flip side, a break of the 21-4HR EMA opens prospects for a run above channel resistance opening the 29th May lows at 56.91. 

​​​​​​​