Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00
USOIL (WTI) Long-term Trend: Bullish
USOIL 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 upside.
Daily Chart Indicators Reading:
USOIL (WTI) is at level 72 of the Relative Strength Index period 14. It indicates that USOIL has reached the overbought region of the market. Sellers will emerge at the overbought region to push prices down. The moving averages are sloping upward indicating the uptrend. The price bars are still above the SMAs which suggests that the market will rise.
USOIL (WTI) Medium-term bias: Bullish
On the 4 hour chart, the WTI price is in an upward move. The market has earlier reached the high of $76 and pulled back. The WTI price pulled back to resume consolidation above $75 support. Meanwhile, on July 1 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that USOIL will rise to level 1.618 Fibonacci extension or level 78.14.
4-hour Chart Indicators Reading
WTI price is below the 80% range of the daily stochastic. The market is in a bearish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. Later, sellers will emerge in the overbought region to push prices down.
General Outlook for USOIL (WTI)
USOIL (WTI) is in an uptrend. Recently, the market pulled back because WTI reached the overbought region of the market. USOIL will resume an upward move if it finds support above level $75.00
You can purchase crypto coins here: Buy Tokens
Note: Learn2Trade.com 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
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.