WTI CRUDE OIL - Is Rising After the Rebound on $43.90 - 07/17/2017 (GMT)
- Who voted?
- 503
- 0
- Timeframe : Daily
WTI CRUDE OIL Chart
The West Texas Intermediate (WTI) crude oil had a declining move since January of this year and during this month the price is trying to recover some of the losses. The oil is developing near its opening level on a monthly basis after the sharp sell-off in the previous months. The previous week added more than 6% after the significant bounce off the $43.90 level.
Technically, on the short-term chart, the price is again approaching the $47.40 resistance handle and if there is a successful jump above it, will hit the 100-day SMA near $48.12. The RSI indicator is flattening in the positive path whilst the MACD oscillator entered into the bullish area and rose above its trigger line.
Technically, on the short-term chart, the price is again approaching the $47.40 resistance handle and if there is a successful jump above it, will hit the 100-day SMA near $48.12. The RSI indicator is flattening in the positive path whilst the MACD oscillator entered into the bullish area and rose above its trigger line.
This member did not declare if he had a position on this financial instrument or a related financial instrument.
Add a comment
Comments
0 comments on the analysis WTI CRUDE OIL - Daily