WTI technical analysis: Eyes on $ 63.79 swing highs

Ross J Burland FXStreet

WTI is above the 200-Experiential Moving Average and has eyes for the $60 psychological figure which correlates with trend line resistance. A break there opens 63.79 swing highs. On the flipside, bears can target back down to the 200 weekly EMA (last week's low) and the 61.8% Fibo around the 52 handle. Lower down, there are prospects for a correction to back towards the14th Jan 50.41 low and then the 26th November lows at 49.44.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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