WTI Technical Analysis: Rejected at the rising wedge's resistance, bears target break of 50% Fibo

WTi has been rejected at the rising wedges resistance while otherwise, bulls look to the 61.8% Fibo of the Oct 2018 sell-off to late Dec lows at 63.74, reviving prospects for the 70 handle.

On the flip side, a break of the 50% Fibo support opens prospects for a break below trend line support and a subsequent drop to 54.50 will open a case for 50.50 as the 23.6% Fibo support structure.

Ross J Burland FXStreet

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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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