Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00
USOIL (WTI) Long-term Trend: Ranging
USOIL was earlier in an uptrend. WTI faced rejection at $67.50 resistance. The market declined to a $57.50 low and resumed a range-bound move. Presently, WTI is fluctuating between levels $57.50 and $67.50. Since March 18, USOIL has been in a range-bound movement.
Daily Chart Indicators Reading:
USOIL (WTI) is at level 46 of the Relative Strength Index period 14. It indicates that WTI is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping horizontally indicating the uptrend.
USOIL (WTI) Medium-term bias: Ranging
On the 4 hour chart, WTI price is also in a sideways trend. The market is fluctuating between levels $58 and $62. WTI price is in a choppy price action. The market is not trending. The price action is characterized by small indecisive candlesticks.
4-hour Chart Indicators Reading
WTI price is below the 75% range of the daily stochastic. The market is in a bearish momentum The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.
General Outlook for USOIL (WTI)
USOIL (WTI) is presently is in a range-bound. Today, WTI price is falling and it is approaching the lower price range. The price action is characterized by small body candlesticks called Doji and spinning tops. The candlesticks indicate that buyers and sellers are undecided about the direction of the market.
You can purchase crypto coins here: Buy Coins
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.