alexkyp

WTI - OIL sort term downward potential

Short
OANDA:WTICOUSD   West Texas Oil
1. The bullish run for WTI faced a critical resistance at $53 a barrel
2. We can expect a potential retest of $50 range if the the price breaks below the 51.50 which is acting as resistance
3. Main target for the bears could be the $50 or $49 range but there is also the 200EMA at $50 which is supporting a downward trend
*** A failure to break below $50 it can open the doors for the $54 and then the 800EMA range around $59 a barrel***