WTI oil has
made a good pullback to the 46.00 level as shown on the daily chart. Just below
the 46.00 level we can see the 200 day exponential moving average, blue line,
which may contribute along with the 46.00 level to prevent the price of oil to
drop below it. Therefore, we could see a bounce to the upside. If the price
bounces to the upside, then it may find resistance again at the 48.00 zone as
it did recently. If the price continues rallying above the 48.00 level, then
its next resistances could be the 50.00 level or the high at the 51.60. On the
other hand, the price may also break below the 46.00 level and maybe try to
visit the 44.00 or the 42.00 levels.
Very useful article.
ReplyDeleteThanks for the useful information.
ReplyDeleteWell spotted! I'll be careful.
ReplyDeleteIt found some support at 45.10.
ReplyDeleteI'll keep those levels in mind.
ReplyDeleteUseful information, thank you!
ReplyDeleteExcellent analisys! I´ll be watching to those levels.
ReplyDeleteThank you for the relevant information.
ReplyDeleteInformative read!
ReplyDelete