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WTI crude oil futures hits 3-month high; bullish correction mode in the near term. West Texas Intermediate crude oil futures topped at a new three-month high of 56.31 during yesterday’s trading session, advancing above the 38.2% Fibonacci retracement level of the down leg from the four-year high of 76.90 to the
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WTI crude oil futures point slightly higher in the near term. West Texas Intermediate (WTI) crude oil futures are edging slightly higher, surpassing the Kijun-Sen line and the 20-simple moving average (SMA) in the 4-hour chart, indicating a possible upside retracement. However, the price remains below the Ichimoku cloud and the
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WTI crude oil futures turn bias to more bullish; reach 2-month high. WTI futures came close to breaking the 38.2% Fibonacci retracement level of the down leg from the four-year high of 76.90 to the 18-month low of 42.50, around 55.64, reaching a fresh two-month high on Friday. The price remains in a bullish correction mode
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WTI crude oil futures on slippery mode; indicators signal bearish retracement. West Texas Intermediate (WTI) futures have declined beneath the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, indicating possible negative retracement. Momentum signals are bearish as well, as the red Tenkan-sen line, which is below the blue Kijun-Sen line, looks to be
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WTI crude oil futures retreat from 1½-month high; pause near 20-SMA. Oil futures retreated from a one-and-a-half-month high of 54.50 on Tuesday, touching the 20-simple moving average (SMA) in the 4-hour chart. The very short-term bias looks negative as the MACD keeps losing ground below its red signal line, while the
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WTI crude oil futures find support at 23.6% Fibonacci; hold within SMA. West Texas Intermediate (WTI) crude oil futures are finding strong support level on the 23.6% Fibonacci retracement level of the sharp downward movement from 76.90 to 42.50, around 50.65. The technical indicators suggest that there are still some investors that
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WTI crude oil futures could see further gains in the near-term. WTI crude oil futures (for February delivery) rebounded on the 18-month low of 42.50 on December 26, driving the price higher towards a three-week high of 49.80 yesterday. The technical indicators suggest that there are still some investors that could hold the market on
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WTI crude oil futures bounce off a 1 ½-year low but still bearish. WTI crude oil futures (for February delivery) jumped by 9% on Wednesday after extending the steep slippery slope to a 1 ½-year low of 42.53. On Thursday, though, the market resumed its bearish mode, with the technical indicators suggesting
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WTI crude oil futures in slippery mode; bears break 49.00 level. WTI futures plummeted to a fresh 15-month low during yesterday’s session, challenging the 48.50 level. The price exited from the narrow range that was holding in the preceding three weeks, continuing the strong downside structure in the short to medium term. Currently,
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WTI crude futures develop in a narrow range after strong sell-off. West Texas Intermediate (WTI) crude oil futures have turned neutral after a strong downfall in the previous weeks. The price struggles within a narrow range, with upper boundary the 54.40 resistance level and lower boundary the 50.00 level. Currently, the price remains below the
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