WTI crude oil seesaws around $73.00 during Thursday’s sluggish Asian session, following its pullback from a 12-day high. In doing so, the black gold remains with the fortnight-old ascending trend channel while retreating from the channel’s top line and a five-week-long horizontal hurdle of late.
It should be noted that the energy benchmark’s latest pullback takes clues from the impending bear cross on the MACD and a retreat in the RSI (14) line after it touched the overbought territory.
With this, the commodity price is likely to decline further towards the immediate support of 100-SMA, around $71.70 by the press time.
In a case where the quote remains bearish past $71.70, the $70.00 and bottom line of the stated channel, close to $69.45, become crucial to watch as they hold the gate for the Oil bear’s entry.
Meanwhile, the aforementioned five-week-old horizontal resistance near $73.90-74.00 restricts the immediate upside of the WTI crude oil.
Following that, a convergence of the stated channel’s top line and the 200-SMA together highlights $74.60 as a tough nut to crack for Oil buyers.
Should the commodity price rally beyond $74.60, the odds of witnessing a run-up toward $77.50 and then to the $78.00 hurdles can’t be ruled out. Though, multiple hurdles marked since February 13 highlight the $80.80-81.00 as crucial resistance to watch afterward.
WTI crude oil seesaws around $73.00 during Thursday’s sluggish Asian session, following its pullback from a 12-day high. In doing so, the black gold remains with the fortnight-old ascending trend channel while retreating from the channel’s top line and a five-week-long horizontal hurdle of late.
It should be noted that the energy benchmark’s latest pullback takes clues from the impending bear cross on the MACD and a retreat in the RSI (14) line after it touched the overbought territory.
With this, the commodity price is likely to decline further towards the immediate support of 100-SMA, around $71.70 by the press time.
In a case where the quote remains bearish past $71.70, the $70.00 and bottom line of the stated channel, close to $69.45, become crucial to watch as they hold the gate for the Oil bear’s entry.
Meanwhile, the aforementioned five-week-old horizontal resistance near $73.90-74.00 restricts the immediate upside of the WTI crude oil.
Following that, a convergence of the stated channel’s top line and the 200-SMA together highlights $74.60 as a tough nut to crack for Oil buyers.
Should the commodity price rally beyond $74.60, the odds of witnessing a run-up toward $77.50 and then to the $78.00 hurdles can’t be ruled out. Though, multiple hurdles marked since February 13 highlight the $80.80-81.00 as crucial resistance to watch afterward.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.