16 May 2019
WTI technical analysis: Momentum indicators aligned bullish with $63.05 on bull's radar
- WTI is supported with bullish MACD and stochastics in the bull’s favour.
- Price supported at golden cross-level which is eclipsed in the chart below.
- Price needs to get above 63 the figure as a firm resistance point. 62.30 is the first barrier before 62.80.
- On the flipside, the 200 DMA guards the 50% Fibo level accumulating at 60.48/59.64 respectively.
- A break of the 50% level opens prospects for the 25th March lows at 58.20.
- The late Feb/early March highs are guarding a break to the early Feb highs at 55.80.
