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WTI oil futures fell from the 58.79 level from the beginning of the month to a spike low of 53.58. Presently standing at 55.25, the price is trading between the 56.00 resistance and 53.45 support. Although the Tenkan-Sen is showing a downwards direction in the short-term, the Kinjun-Sen has flattened over the
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WTI oil futures have been flirting with the 200-day simple moving average (SMA) but were unable to close above it over the last week after finding support at the 54.80 level. The price seems to be caught between the 20-, 60- and 200-day SMAs in a sideways market that has lasted
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WTI futures encounter resistance from both the 50- and 200-SMAs. WTI oil futures moved north from five-month lows of 50.58 towards the 61.8% Fibonacci retracement of the down move from 66.57 to 50.58, of 60.47, over the last month. The price tumbled from the 61.8% Fibo and lost steam near its 23.6%
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WTI futures find resistance at 23.6% Fibo; ‘golden cross’ completed. WTI crude oil futures recorded an upside rally last week, but this week the price is on the backfoot after the bounce off the significant barrier of the 23.6% Fibonacci level of the upward wave from 42.50 to 66.60 near 60.90. The technical
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WTI futures erase upside rally, holding in Ichimoku cloud. WTI crude oil futures have been underperforming over the last couple of days, remaining within the short-term moving averages and the Ichimoku cloud in the 4-hour chart. The RSI and the MACD oscillator are moving sideways near the 50 and the zero lines respectively, suggesting a neutral
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WTI futures remain above 50.0% Fibo; MACD signals negative divergence. WTI crude oil futures are on course to jump above the 20-simple moving average (SMA) after they found crucial support at the 50.0% Fibonacci retracement level of the down-leg from 66.60 to 50.60 near 58.58 over the last sessions. Having a look at
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WTI futures hover in a narrow range; flat in the short term. WTI oil futures for August delivery are moving sideways below the 50.0% Fibonacci mark of the 66.60 – 50.60 down-leg near 58.58 but hover above the 20-period simple moving average (SMA) in the 4-hour chart. The RSI and the MACD
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WTI oil futures lack clear direction in the short-term; the medium-term downtrend intact. WTI crude oil futures are rising above the bullish cross within the 20- and 40-simple moving averages (SMA) but are still hovering below the Ichimoku cloud in the 4-hour chart. The downside momentum appears to have run out of
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WTI futures hover above 4-month lows; bearish bias may run out of steam. WTI crude oil futures declined considerably towards a fresh four-month low of 52.11 on Monday, erasing the medium-term ascending movement in the daily chart. However, the downside momentum appears to have run out of steam as prices have been
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WTI crude futures build a base above the 2½-month trough. WTI crude oil futures found strong support at a fresh two-and-half-month low of 57.40, where the 38.2% Fibonacci retracement level of the upward rally from 42.50 to 66.60 is standing. The price drifted below the ‘golden cross’ of the 50- and 200-simple
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