That said, the 100-SMA level near $90.45 restricts the immediate downside of the black gold. On the flip side, pullback moves remain elusive until the quote remains above the descending resistance line from July 29, around $89.10. However, the energy benchmark’s further upside hinges on how well the buyers can cross the 200-SMA hurdle surrounding $93.65.įollowing that, a slow grind towards the monthly high of $95.90 and then to the $100.00 threshold can’t be ruled out. ![]() In doing so, the black gold justifies the previous day’s upside break of the 100-SMA, as well as the bullish MACD signals.Īdditionally, the lower high on prices joins the higher high on the RSI (14) to portray the hidden bullish divergence of the commodity.Īs a result, the quote aims for the downward sloping resistance line from late July, around $92.30. ![]() WTI crude oil buyers defend the $91.00 breakout heading into Tuesday’s European session. 12-day-old support line adds to the downside filters.Two-month-old resistance line, 200-SMA restrict immediate upside. ![]() Successful break of 100-SMA, bullish MACD divergence keep buyers hopeful.WTI holds onto the previous day’s recovery moves, grinds higher around daily top.
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