WTI Crude beat the 7180/89 high to top at 7230
|WTI CrudeJune contract
WTI Crude beat the 7180/89 high to top at 7230. Strong resistance at the 500 week moving average at 7300/7310 is looming just above & is causing some bulls to take profit as we struggle in severely overbought conditions.
Holding below 7200 risks a slide to 7135/25 & good support at 7100/7090. A weekly close below here would be a small sell signal for the start of next week. Next target 7075 then trend line support at 7040/30.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.