WTI increased in value in the start of today's Asia session, following a weakened US dollar and the news that China is easing the COVID lockdowns, which will most likely boost the economy of the second largest energy consumer.
On the technical site, the instrument broke the resistance of the triangle pattern, MACD histogram is above 0 line and RSI indicator is above the neutral 50 line.
If the trend continues, the price might reach levels of 88.5, on the other hand, if trend reverses, the price might test its previous support at 83.8
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
On the technical site, the instrument broke the resistance of the triangle pattern, MACD histogram is above 0 line and RSI indicator is above the neutral 50 line.
If the trend continues, the price might reach levels of 88.5, on the other hand, if trend reverses, the price might test its previous support at 83.8
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.