Invest at least $250 in D2T to gain lifetime access to our VIP Signals
Get early access to Dash 2 Trade’s Presale. Buy the D2T token now
Existing community of 70,000+ traders
Unlocks access to the leading crypto trading analysis, signals and trading tools
As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more
World class development team backed by Quant developers and VC investors
Key Resistance Levels: $80.00, $84.00, $88.00
Key Support Levels: $66.00,$62.200,$58.00
USOIL (WTI) Long-term Trend: Bullish
USOIL price is in an uptrend since April 26 but struggles below $111.15 high. The index price broke above the moving averages. This is an indication that the market will rise to the upside in the bullish trend zone. Meanwhile, on April 29 uptrend; a retraced candle body tested the 61.8 Fibonacci retracement level. The retracement suggests that the index will rise to level 1.618 Fibonacci extension or level $115.63. From the price action, the market has reached a high of $110.49.
Daily Chart Indicators Reading:
USOIL is at level 60 of the Relative Strength Index for period 14. It indicates that WTI is in the uptrend zone as it continues to make an upward move to the previous highs. The price bars are above the moving averages indicating a possible rise in the index. The 21-day SMA and the 50 –day SMA are sloping upward indicating the uptrend.
.
USOIL (WTI) Medium-term bias: Bearish
On the 4-hour chart, the index is making an upward move. The uptrend is facing an initial resistance at the high of $111.00. Since May 5, the bulls have been struggling to break above the resistance level. Meanwhile, on May 5 uptrend; a retraced candle body tested the 61.8 Fibonacci retracement level. The retracement suggests that the index will rise to level 1.618 Fibonacci extension or level $116.15. From the price action, the bulls are yet to break the initial resistance level.
4-hour Chart Indicators Reading
WTI is above the 70% range of the daily stochastic. The index is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. WTI price bars are above the moving averages indicating a possible rise in the index.
General Outlook for USOIL (WTI)
USOIL (WTI) is in an uptrend as it revisits the previous high of $129.00 but struggles below $111.15 high. The current uptrend is stalled below the $111.00 high. The index will resume an uptrend when the resistance level is breached
You can purchase crypto coins here: Buy LBlock
Note: Learn2Trade 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