🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

WTI Crude: Heading Higher

Published 01/16/2014, 10:49 AM
Updated 07/09/2023, 06:31 AM

WTI Crude Weekly Chart
WTI Crude headed higher as predicted and beat 9335/45 to reach strong resistance at 9475/85 which held a move higher as expected. We topped almost exactly here at 9464 and being overbought short term we could drift lower to 9390/85, possibly 9350/40. A good chance of a low for the day here, but if we continue lower use 9305/00 as a buying opportunity with stops below 9260.

Immediate resistance at 9475/85 could hold a move higher again today with a consolidation of yesterday's move likely. However be ready to go with a break above 9525 for a target of 9590/00. Exit longs and try shorts from here up to 9625.

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.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.