JigneshDavda
Short

Technical Breakdown in Oil prices

FX:USOIL   CFDs on Crude Oil (WTI)
WTI Crude Oil             has seen a technical break lower, although momentum has not accompanied the later part of the move.

A rising 4-hour channel broke down last Friday, with momentum accelerating to the downside, and a rising trendline from February lows was seen broken during the FOMC Statement on Wednesday.

Retracements in the pair may now be capped by resistance found at the $49.69 price point, reflecting the highest daily close in the fourth quarter of 2015. A secondary level is found at $50.18 representing May highs. The $50.00 price point provides resistance as a psychological level.

The stronger uptrend witnessed from this year's lows dictates a consolidation period may take place prior to a broader decline.
Good job
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out