FX:USOIL   Crude Oil (WTI)
166 0 10
Crude's bounce from 100-day SMA failed to clear the $43.50-60 horizontal support-turned-resistance and is now indicating a quick test to 38.2% Fibonacci Retracement of its June 2015 – January 2016 downside, near $40.80, which if broken can further drag the energy prices to $39.00 and the short-term ascending trend-channel support of $37.50. Should the Crude price failed to hold its decline at $37.50, it can re-test the 100-day SMA support of $36.25 prior to aiming the $35.30 mark. On the upside, a clear break above $43.60 can trigger the prices rally to $44.80, comprising 50% Fibo, clearing which the channel resistance level of $46.50 is an important number for the crude traders to watch. Given the price break above $46.50, chances of its north-run to aim for $49.00, including 61.8% Fibo, can't be denied.

Related Ideas

rajenderam40
Silver
rajenderam40 about XAGUSD 7 months ago
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out