Market Analysis – April 14
US Oil experienced a bearish breakout below the demand level of 73.20. The anticipated retest of the demand level was dashed as the market suddenly gapped above 81.130.
Oil Key Levels
Demand Levels: 73.200, 66.000, 62.00
Supply Levels: 81.130, 89.000, 92.800
Oil Long-Term Trend: Bullish
Oil was stuck between the resistance level of 81.130 and the demand level of 73.200. The daily candles swerved above and below the Moving Average string continuously to reveal the consolidation. On the 13th of March, Three Black Crows led the market outside the range after the Stochastic Oscillator indicated overbought at the test of the supply level of 81.130.
The breakout led the market to the oversold level of 66.000. Immediately, a retracement was initiated to test the 71.200 key level. The anticipated retracement to continue the descent was dashed as the market gapped above 81.130.
Oil Short-Term Trend: Bullish
Since the jump in the price of WTI, the market has remained stiff. The sweep above the previous highs of 81.130 is expected to provide support for an ascent to 89.000.
You can purchase Lucky Block here. Buy LBLOCK
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus