WTI technical analysis: Momentum indicators aligned bullish with $63.05 on bull's radar

Ross J Burland FXStreet

WTI is supported with bullish MACD and stochastics in the bull’s favour.
Price supported at golden cross-level which is eclipsed in the chart below.
Price needs to get above 63 the figure as a firm resistance point. 62.30 is the first barrier before 62.80.
On the flipside, the 200 DMA guards the 50% Fibo level accumulating at 60.48/59.64 respectively.
A break of the 50% level opens prospects for the 25th March lows at 58.20.
The late Feb/early March highs are guarding a break to the early Feb highs at 55.80.

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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