WTI crude oil price holds lower grounds near $69.60 as bears take a breather during early Wednesday morning in Asia, after a heavy fall.
That said, the black gold dropped the most since May 02 on Tuesday to drag the quote towards the lowest levels in three weeks. With this, the energy benchmark broke an upward-sloping trend channel established since May 08, as well as extended the trading below the 200-SMA.
While the bullish channel rejection and sustained trading below the key SMA favor Oil price sellers, the MACD signals are also suggesting the commodity’s further downside. However, the RSI (14) is oversold and hence the quote needs to consolidate a bit before portraying the fresh fall.
With this, the $67.30-20 support area gains attention before the WTI bears can approach the monthly, as well as the yearly, low marked on May 03 around $64.30.
Meanwhile, the stated channel’s bottom line, close to $71.70 precedes the 200-SMA hurdle of around $73.93 to guard immediate recovery of the Oil price.
Following that, the aforementioned channel’s top line near $75.00 and the April 28 peak of around $76.85 may challenge the WTI bulls before giving them control.
Trend: Further downside expected
© 2000-2024. 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.
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.
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.