WTI attempts recovery moves from intraday low of $39.33. 50-bar SMA offers immediate support, 200-bar SMA guards upside moves. Two-week-old ascending trend line, Friday’s top add filters to the momentum. WTI picks up bids near $39.57 during the pre-European trading on Wednesday. Though, the black still drops 0.55% intraday by the press time. While 50-bar SMA restricts the energy benchmark’s short-term declines, recovery moves are tamed by 23.6% Fibonacci retracement of September 08-18 upside and 200-bar SMA. Considering the latest pullback moves, WTI oil prices are likely to trim additional losses by challenging the 23.6% Fibonacci retracement level of $40.51. However, $40.00 may offer an intermediate halt during the rise. Further to question buyers are the 200-bar SMA level of $41.23 and Friday’s top near $41.75. Alternatively, the September 09 high of $38.68 can please the bears on the break of $39.46 level comprising immediate SMA support. Also questioning the WTI weakness will be an upward sloping trend line from the early-month lows, at $38.00 now. WTI four-hour chart Trend: Pullback expected 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 Crude Oil Futures: Outlook remains neutral/bearish FX Street 2 years WTI attempts recovery moves from intraday low of $39.33. 50-bar SMA offers immediate support, 200-bar SMA guards upside moves. Two-week-old ascending trend line, Friday’s top add filters to the momentum. WTI picks up bids near $39.57 during the pre-European trading on Wednesday. Though, the black still drops 0.55% intraday by the press time. While 50-bar SMA restricts the energy benchmark’s short-term declines, recovery moves are tamed by 23.6% Fibonacci retracement of September 08-18 upside and 200-bar SMA. Considering the latest pullback moves, WTI oil prices are likely to trim additional losses by challenging the 23.6% Fibonacci retracement level of $40.51.… 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.
