WTI Crude - Breakout Imminent?
Oil prices have rebounded strongly over the last couple of weeks, with WTI coming within a whisker of $70 before profit-taking kicked in.
The pullback today was short-lived and after falling close to $67 it recovered the bulk of the losses to trade in between two key technical levels.
Above, $70 is an important psychological barrier that coincides with the 200/233-period SMA band on the 4-hour chart. This is also around the 55/89-day SMA band.
Below, the 55/89-period SMA on the 4-hour chart coincides with recent support that has been tested on a number of occasions this past week.
A breakout in either direction may indicate the direction of travel in the coming weeks.
The pullback today was short-lived and after falling close to $67 it recovered the bulk of the losses to trade in between two key technical levels.
Above, $70 is an important psychological barrier that coincides with the 200/233-period SMA band on the 4-hour chart. This is also around the 55/89-day SMA band.
Below, the 55/89-period SMA on the 4-hour chart coincides with recent support that has been tested on a number of occasions this past week.
A breakout in either direction may indicate the direction of travel in the coming weeks.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.