Sellers return after WTI faces rejection above 50-HMA. The US oil clings to 21-HMA support just above the $63 mark. RSI turns bearish, key support at $62.65 appears at risk. WTI (futures on NYMEX) has wiped off early gains, now back in the red zone around the $63 mark, as sellers fight back control in the European session. At the time of writing, WTI is flirting with the downward-pointing 21-hourly moving average (HMA) support at $63.07, modestly lower on the day. The bearish pressures got revived after the US oil failed to find acceptance once again above the 50-HMA at $63.26. The next cushion for the WTI bulls is aligned at the horizontal trendline support at $62.65, from where the price has rebounded on a couple of occasions. An hourly closing below that level could expose the bullish 100-HMA cap at $62.36. The hourly Relative Strength Index (RSI) has edged into the bearish zone, backing the additional downside. WTI one-hour chart However, if the 50-HMA hurdle is scaled on a sustained basis, the bulls could look to challenge the April 16 high of $63.93. Further up, the psychological $64.50 level will be on the buyers’ radars. WTI additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Top 3 Price Prediction Bitcoin, Ethereum, Ripple: XRP price takes point in recovering weekend crash losses FX Street 2 years Sellers return after WTI faces rejection above 50-HMA. The US oil clings to 21-HMA support just above the $63 mark. RSI turns bearish, key support at $62.65 appears at risk. WTI (futures on NYMEX) has wiped off early gains, now back in the red zone around the $63 mark, as sellers fight back control in the European session. At the time of writing, WTI is flirting with the downward-pointing 21-hourly moving average (HMA) support at $63.07, modestly lower on the day. The bearish pressures got revived after the US oil failed to find acceptance once again above the 50-HMA at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
