WTI technical analysis: Holds the 200-D EMA while bears eye 200 weekly EMA

Ross J Burland FXStreet

WTI is consolidating above the 200-Experiential Moving Average.
Bears look to the 200 weekly EMA (last week's low).

WTI is consolidating above the 200-Experiential Moving Average still and has eyes for the $60 psychological figure which correlates with trend line resistance. Bulls will also look to the 63.79 swing highs. However, on a break the weekly lows at 56.77, eyes will turn to the 200 weekly EMA (last week's low) and the 61.8% Fibo around the 52 handle. There would then be prospects for a correction to back towards the14th Jan 50.41 low and then the 26th November lows at 49.44.

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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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