WTI and Brent Crude Oil charts: overcome resistance zones but remain below 200 day EMAs
2 years ago
WTI Crude Oil chartJust when it appeared that bears were getting the upper hand, the daily bar chart pattern of WTI Crude Oil rallied smartly past its 20 day and 50 day EMAs and the 'support/resistance zone' (between 53 and 55).The bullish fervour didn't last long. The rally failed to reach its sliding 200 day EMA, and pulled back to the 'support/resistance zone' before bouncing up. Such a pullback usually provides a buying opportunity.Oil's price needs to close convincingly above the Fibonacci resistance zone between 59 and 63 (which are the 50% and 61.8% retracement levels of the fall from the Oct '18 top of 76 to the Dec '18 low of 42) before bulls can regain control of the chart.Daily technical indicators are in bullish zones but not showing much upward momentum. MACD is seeking support from its signal line in bullish zone. RSI is above its 50% level. Slow stochastic has fallen from its overbought zone. Some consolidation is likely before oil's price c
You have shown
out of 3 allowed reactions for this News.
Abhishek Kapoor Reacts After Finally Knowing ...
Love Story Day 3 Box Office Collection: Naga ...
Khatron Ke Khiladi 11 Winner Arjun Bijlani Sa ...
Khatron Ke Khiladi 11 Winner: Arjun Bijlani L ...
Khatron Ke Khiladi 11 Grand Finale Highlights ...
Amitabh Bachchan And Ajay Devgn's Starrer May ...
Ananya Panday Is The Youngest Indian Celebrit ...
Bigg Boss OTT's Raqesh Bapat Reacts To Naysay ...
Ranveer Singh Makes A Major Announcement On 8 ...
Aamir Khan To Release Laal Singh Chaddha In C ...
Daughters' Day 2021: Amitabh Bachchcan, Neetu ...
Bigg Boss Telugu 5: Lahari Shari To Enter Sec ...
You may like
Akshay's 'Raksha Bandhan' on Aug 11, 2022
Mumtaz visits Dharmendra at his Juhu home
Kubbra Sait: Actors are working for passion
Aamir-Kiran go on a lunch date with son Azad
Stunning swimsuit looks of Janhvi Kapoor
Squid Game makers on the controversy
Stunning pics of Ileana D'Cruz
Fans laud Sara for wearing saree at an event
Bollywood stars & their upcoming films
Akshay to clash with Prabhas in August 2022
Adorable pictures of Tollywood actors with puppies
Shang-Chi tops box office for 4th week
Big B praises a differently-abled fan
Are Ranbir-Alia looking for a wedding venue?
Babil posts pictures of Irrfan-Tom Hanks
Kangana reveals she lost 20 kgs in six months
Excl: Jackie Shroff remembers Dev Anand
When Nora Fatehi warmed up with floral prints
Ranjeet: I hit Sridevi with a hunter and returned to my room and wailed! - #BigInterview
Nehha Pendse's stunning looks
BIG MOVIE RELEASES COMING UP