WTI technical analysis: Bulls have eyes for the 55 handle
|
- Oil managed a bid above the 200 weekly EMA overnight but has not pulled away entirely.
- The 61.8% Fibo is also located in this vicinity and has stablised the downside.
- However, a move lower could see this area give out to open the 14th Jan 50.41 low.
- The 26th November low comes in at 49.44.
- Bulls have their eyes set on 54.50 and then 55.20 meeting the 20-D EMA.
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.