Hi Traders,
The WTI Crude oil is moving at the price of $56.56 per barrel.
Looking at the trading range daily timeframe, Fib retracement established support at the current max support level of $53.29.
Should the range break the current maximum support line, the price for crude oil will possibly continue to rally down towards next maximum support at $51.42.
If a confirmation candle breaks out the current $56.53 resistance level, there is a potential upward trend for the crude oil price.
The WTI Crude oil is moving at the price of $56.56 per barrel.
Looking at the trading range daily timeframe, Fib retracement established support at the current max support level of $53.29.
Should the range break the current maximum support line, the price for crude oil will possibly continue to rally down towards next maximum support at $51.42.
If a confirmation candle breaks out the current $56.53 resistance level, there is a potential upward trend for the crude oil price.