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USOIL Reaches $89.75 High as It Risks a Decline to $76

Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: Bullish USOIL reaches bullish exhaustion as it risks a decline to $76. Buyers are attempting to push the index to the previous highs. In previous upward moves, the index was repelled at the $93 and $97 highs. However, WTI is already trading […]

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USOIL Makes an Upward Correction As It Holds Above $86

Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: BearishUSOIL has resumed selling pressure as it holds above $86. The index may revisit the previous low at $75 if price breaks below the moving average lines. Nonetheless, on September 8 downtrend, WTI made an upward correction and a candle body tested […]

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USOIL Regains Bullish Momentum as Price Breaks above $82 High

Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: BearishUSOIL is in an upward correction as it regains bullish momentum. As WTI breaks above the 21-day line SMA, the bullish momentum will extend to the 50-day line SMA. Nonetheless, on September 29 uptrend; a retraced candle body tested the 50% Fibonacci […]

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USOIL Makes an Upward Correction as It Holds Above $85

Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: BearishUSOIL price breaks below the moving average lines as it holds above $85. On August 29, the upward correction failed to break above the 50-day line SMA. WTI declined as price broke below the moving average lines. WTI will resume selling pressure […]

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