WTI Price Analysis: Oil’s recovery remains elusive below $79.20
20.02.2023, 23:34

WTI Price Analysis: Oil’s recovery remains elusive below $79.20

  • WTI grinds within immediate bullish channel after snapping five-day downtrend.
  • Key moving averages, monthly resistance line challenge buyers.
  • Bears need to conquer $72.70 to retake control, $76.70 acts as immediate support.

WTI pares the week-start gains as it prints mild losses around $77.30 during Tuesday’s Asian session. In doing so, the black gold trades inside a two-day-old ascending trend channel.

Adding strength to the recovery moves could be the looming bull cross on the MACD, as well as a clear bounce off the six-week-old horizontal support zone, near $72.50-70.

It’s worth noting, however, that the quote’s upside break of the stated channel’s top, around $78.10 at the latest, could find it difficult to lure the Oil buyers as a convergence of the 50-SMA and the 200-SMA might restrict the black gold’s further upside near $78.40.

Even if the quote rises past $78.40, a downward-sloping resistance line from January 27 and the multiple tops marked since late January, respectively near $79.15 and $82.60-65 by the press time, will be crucial to watch for WTI traders past $78.40.

Meanwhile, pullback moves remain elusive unless staying inside the stated bullish channel, currently between $76.65 and $78.10.

Following that, $75.10 and $74.30 may entertain WTI crude oil bears before directing them to the “doubt bottom” marked around $72.50-65.

Overall, WTI is likely to remain firmer inside the $72.50 and $82.65 trading range.

WTI: Four-hour chart

Trend: Limited upside expected

 

© 2000-2025. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik