Key Resistance Levels: $66.00, $70.00, $74.00Key Support Levels: $48.00,$44.00,$40.00 USOIL (WTI) Long-term Trend: BearishUSOIL is in an upward move. The index has reached a high of $68.25. The index price has broken the 21-day SMA and it is approaching the 50-day SMA. A break above the moving averages will propel the index to reach the […]
Key Resistance Levels: $66.00, $70.00, $74.00Key Support Levels: $48.00,$44.00,$40.00 USOIL (WTI) Long-term Trend: BearishUSOIL is in a downward move as price reaches the low of $61.92. The downtrend has been ongoing since July 6. On August 9, the WTI made an upward correction to $69 high which was repelled. This correction signal another round of […]
Key Resistance Levels: $66.00, $70.00, $74.00Key Support Levels: $48.00,$44.00,$40.00 USOIL (WTI) Long-term Trend: BearishUSOIL has continued its downward move. WTI has earlier fallen to the low of $66 on two occasions but the price corrected upward. Following the correction to $69, on August 11, the selling pressure resumed in earnest. WTI fell to $66 lows […]
Key Resistance Levels: $66.00, $70.00, $74.00Key Support Levels: $48.00,$44.00,$40.00 USOIL (WTI) Long-term Trend: BearishUSOIL is in a sideways trend. The upward move has been stalled at $78. After its rejection from the $78 high, the market declined to the low of $66. The subsequent upward move has been restricted below $74. Buyers have an uphill […]
Key Resistance Levels: $66.00, $70.00, $74.00Key Support Levels: $48.00,$44.00,$40.00 USOIL (WTI) Long-term Trend: BearishUSOIL is correcting upward. It has reached a high of $74.21. Also reached bullish exhaustion. WTI crude oil is expected to fall. Meanwhile, on July 8 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that USOIL […]
Key Resistance Levels: $66.00, $70.00, $74.00Key Support Levels: $48.00,$44.00,$40.00 USOIL (WTI) Long-term Trend: BearishUSOIL is in a downward move. WTI is correcting upward as price falls to the low of $65. The upward correction has reached the high of $72. However, USOIL is still trading in the overbought region of the market. It implies that […]
Key Resistance Levels: $66.00, $70.00, $74.00Key Support Levels: $48.00,$44.00,$40.00 USOIL (WTI) Long-term Trend: BearishUSOIL has resumed its downward move after rejection from the $77 high. WTI faces another rejection at $75 after price is corrected to the recent high. The implication is that the downtrend will continue on the downside. Meanwhile, on July 7 downtrend; […]
Key Resistance Levels: $66.00, $70.00, $74.00Key Support Levels: $48.00,$44.00,$40.00 USOIL (WTI) Long-term Trend: BullishUSOIL is in an uptrend as it reached the high of $76.95. The market is declining after rejection from the recent high. Meanwhile, on July 6 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that USOIL […]
Key Resistance Levels: $66.00, $70.00, $74.00Key Support Levels: $48.00,$44.00,$40.00 USOIL (WTI) Long-term Trend: BullishUSOIL is in an uptrend. WTI has risen to an overbought region of the market. The RSI indicated an overbought region of the market as USOIL rises to $75.10. The implication is that the upward rally is likely to subside on the […]
