- The price was climbing along a trend line support est.11th Feb. down in the 51 handle and again around 55.56 at the start of this month but it is taking it on in Tokyo with a drop to 56.01 so far.
- The daily Ichimoku Cloud is not bullish enough as the price moves into a phase of consolidation.
- Key support is now located at 55.95.
- Bears can aim for 38.2% Fibo and recent lows that are located around 55.60/10.
- However, hourly Stochastics are overcooked to the downside.
- Bulls have eyes on a target of the recent tops of 57.85/93 double-tops.
WTI hourly chart
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.