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Fx-jomic
Nov 29, 2020 1:12 PM

WTI CRUDE OIL Long

WTI CRUDE OILTVC

Description

WTI CRUDE OIL has broken above the $45 level during the course of the week, showing signs of continued strength.
At this point, it is likely that we go looking towards the $51 level.
That is an area that I think will continue to cause some serious issues, as it is a large,
round, psychologically significant figure and of course where we see the 200 MA sitting just above.
I do think that might be the target over the next couple of weeks though,
as people are also starting to price and the possibility of an extension of OPEC production cuts.
Comments
bkorbe80
$51 sounds good to me. may be some resistance around 47.50.
Fx-jomic
@bkorbe80, we have a lot of resistance levels on daily chart also
RyodaBrainless
Impressive chart with the very logic SR
Fx-jomic
@RyodaBrainless, thanks mate
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