Julesdude

Important Historical Resistance Levels for WTI Crude Oil

FX:USOIL   CFDs on Crude Oil (WTI)
For a few days now I've been keeping an eye on historical resistance levels for WTI Crude Oil. As you can see on the chart here, since 2014 a resistance level has been established that price has remained faithful to. I have drawn these lines here in red as two variants which differ slightly in angle depending on the highs they are drawn from/to, but the basic 2014 line suggests a firm resistance approaching at the $56 mark. We will see whether resistance is respected here or, should it be broke, the next resistance line would be around $60 mark.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.