WTI (1H) - short term bearish bias
The US oil's sideways consolidation have come to an end with a breakout on the downside. The lower band of the channel failed to keep the price in check as buyers started to bail out. Fresh sellers are likely to join in and weigh in after a bearish MA cross and a short-lived rebound. We may expect the price to test the previous low of 55.80, its breach could trigger an extended sell-off and dent the bullish sentiment built up since the start of October.
Key support: 55.80
Key resistance: 57.30
The US oil's sideways consolidation have come to an end with a breakout on the downside. The lower band of the channel failed to keep the price in check as buyers started to bail out. Fresh sellers are likely to join in and weigh in after a bearish MA cross and a short-lived rebound. We may expect the price to test the previous low of 55.80, its breach could trigger an extended sell-off and dent the bullish sentiment built up since the start of October.
Key support: 55.80
Key resistance: 57.30
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.