WTI Crude Oil has seen a technical break lower, although momentum has not accompanied the later part of the move.
A rising 4-hour channel broke down last Friday, with momentum accelerating to the downside, and a rising trendline from February lows was seen broken during the FOMC Statement on Wednesday.
Retracements in the pair may now be capped by resistance found at the $49.69 price point, reflecting the highest daily close in the fourth quarter of 2015. A secondary level is found at $50.18 representing May highs. The $50.00 price point provides resistance as a psychological level.
The stronger uptrend witnessed from this year's lows dictates a consolidation period may take place prior to a broader decline.
A rising 4-hour channel broke down last Friday, with momentum accelerating to the downside, and a rising trendline from February lows was seen broken during the FOMC Statement on Wednesday.
Retracements in the pair may now be capped by resistance found at the $49.69 price point, reflecting the highest daily close in the fourth quarter of 2015. A secondary level is found at $50.18 representing May highs. The $50.00 price point provides resistance as a psychological level.
The stronger uptrend witnessed from this year's lows dictates a consolidation period may take place prior to a broader decline.
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.