WTI Crude Oil May Continue The Bull Rally

Published 08/05/2013, 07:07 AM
Updated 05/14/2017, 06:45 AM

As shown on the daily chart, the latest bearish wave in WTI Crude could be a mere retest of the main broken descending resistance, where price resumed the overall bullish wave after retesting the trend line around 103.00 area. The bullish scenario is favored, towards the next key resistance area at 110.00. A break above 110.00 will be the catalyst for further gain and the continuation of the rally.
WTI Crude Oil
Support: 106.00, 105.80, 104.85, 104.30, 103.90
Resistance: 107.35, 108.00, 108.55, 108.85, 109.35

Recommendation Long above 106.00 , targets at 107.00 and 108.55. Invalidation below 105.10

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.