WTI
oil has found a very good resistance zone around the 72.00 level as shown on
the daily chart. The price has already tested that level a few times since last
week and due to the fact that the daily candle lows are higher than the
previous ones, which is an indication that the pressure is accumulating to the
upside. Therefore, we could see a bullish breakout of the 72.00 level. Above
the 72.00 level we do not have any more important resistances until the 77.13
level where we can find the 200 month EMA. Between the 72.00 level and the
77.13 level, any of the round number levels could act as resistance. Another
possible scenario is a breakout-pullback pattern around the 72.00 level. On the
other hand, if the price of WTI oil breaks below the 70.00 level, then is next
support zone could be the 67.62 level along with the 55 day EMA, purple line.
Subscribe to:
Post Comments (Atom)
WTI oil at the 200 day EMA
WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...
-
Great events, great Webinars during this month of November by ActivTrades. Paul Wallace will be conducting an interesting event on Thursday...
-
The Dow Jones industrial index reaches for the first time in its lifetime the 20000 points, prolonging what it has come to be known as “the ...
-
The EUR/USD has made a very good bearish retracement from the 200 day EMA around the 1.0770 level, which has taken it below the 1.0700 leve...

The up trend seems to be losing strength.
ReplyDeleteI'll watch those levels, thank you.
ReplyDeleteImportant levels to keep in mind.
ReplyDeleteExcellent analysis, thank you!
ReplyDeleteI believe in a consolidation before another rise.
ReplyDeleteI'll keep your assessment in mind.
ReplyDeleteI agree with your analysis.
ReplyDeleteAs always, very detailed analysis.
ReplyDelete