Technical Summary:
The primary trend of WTI is bearish, and the prices on a 4H chart also continue their downtrend within a declining wedge pattern.
However, prices are retracing after testing the lower fib level 0.0 (61.33) and are currently trending above a crucial psychological & historically tested support of 62.00.
If prices remain able to sustain higher, then it might test important resistance at 63.00, with a near hurdle at the fib level 0.236 (63.45).
Indicator Interpretation:
The prices are rising after testing the lower Bollinger band, signaling a bullish reversal.
Alternate Scenario
If crude oil breaks the crucial support zone between 62.0 - 61.8, then it could signal rising bearish pressure.
Key Levels
Resistance
Support
Facts & Figures:
The world produces about 95–100 million barrels of crude oil per day, with major producers including the U.S., Saudi Arabia, Russia, and Canada.
The primary trend of WTI is bearish, and the prices on a 4H chart also continue their downtrend within a declining wedge pattern.
However, prices are retracing after testing the lower fib level 0.0 (61.33) and are currently trending above a crucial psychological & historically tested support of 62.00.
If prices remain able to sustain higher, then it might test important resistance at 63.00, with a near hurdle at the fib level 0.236 (63.45).
Indicator Interpretation:
The prices are rising after testing the lower Bollinger band, signaling a bullish reversal.
Alternate Scenario
If crude oil breaks the crucial support zone between 62.0 - 61.8, then it could signal rising bearish pressure.
Key Levels
Resistance
- R1 = 62.45
- R2 = 63.15
Support
- S1 = 62.00
- S2 = 61.30
Facts & Figures:
The world produces about 95–100 million barrels of crude oil per day, with major producers including the U.S., Saudi Arabia, Russia, and Canada.
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.