Slobodan Drvenica
Windsor Brokers
WTI Oil
WTI oil price fell further in early Monday trading, in extension of Friday’s 2.2% drop, as the sentiment soured on signals that higher than expected US inflation may delay Fed rate cuts.
Fresh weakness emerged after several upside rejections and repeated failure to register a weekly close above important Fibo resistance at $78.13 (38.2% retracement of $95.00/$67.70 downtrend), which left a platform at $78.50/90 zone.
Near-term structure weakened as the price broke below a cluster of converged daily MA’s (200/10/100/ 20) and bullish momentum is fading, with formation of bearish engulfing pattern on weekly chart, adding to negative signals.
Bears cracked pivotal Fibo support at $76.04 (38.2% of $71.40/$78.90) with close below this level to further boost fresh bears for attack at $75.34/15 (daily Kijun-sen / 50% retracement) loss of which to confirm reversal.
Falling 10DMA ($76.75) offers solid resistance which should keep the upside protected and keep near-term bears intact.
Res: 76.99; 77.65; 78.50; 79.27.
Sup: 76.17; 75.81; 74.97; 74.12.
Interested in WTI technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
EUR/USD bounces off lows, retests 1.1370
Following an early drop to the vicinity of 1.1310, EUR/USD now manages to regain pace and retargets the 1.1370-1.1380 band on the back of a tepid knee-jerk in the US Dollar, always amid growing optimism over a potential de-escalation in the US-China trade war.
GBP/USD trades slightly on the defensive in the low-1.3300s
GBP/USD remains under a mild selling pressure just above 1.3300 on Friday, despite firmer-than-expected UK Retail Sales. The pair is weighed down by a renewed buying interest in the Greenback, bolstered by fresh headlines suggesting a softening in the rhetoric surrounding the US-China trade conflict.
Gold remains offered below $3,300
Gold reversed Thursday’s rebound and slipped toward the $3,260 area per troy ounce at the end of the week in response to further improvement in the market sentiment, which was in turn underpinned by hopes of positive developments around the US-China trade crisis.
Ethereum: Accumulation addresses grab 1.11 million ETH as bullish momentum rises
Ethereum saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.