WTI over 1.0% on the failures to stretch bounces off $38.91 beyond $40.05. 100-day SMA n the bears’ radar but bullish MACD can restrict further downside. Friday’s high adds to the upside barrier beyond the 50-day SMA. WTI keeps the previous day’s bearish momentum while declining to $39.44, down 1.09% intraday, during the pre-European open trading on Tuesday. In doing so, the oil benchmark stretches the U-turn from 50-day SMA towards 100-day SMA. 50% Fibonacci retracement of WTI’s June-August upside, near $39.25, offers immediate support to the quote ahead of the 100-day SMA level of $38.54. However, bullish MACD can probe the black gold’s further weakness past-$38.54 around the 61.8% Fibonacci retracement level of $38.16. Meanwhile, 38.2% of Fibonacci retracement, at $40.33, can question WTI’s upside beyond the $40.00 threshold. It should, however, be noted that the peak of Friday’s Doji candle, at $41.75, becomes the key resistance for buyers’ entry. WTI daily chart Trend: Further weakness 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 Forex Today: Dollar buoyant ahead of Powell, UK PM Johnson’s COBRA meeting eyed FX Street 2 years WTI over 1.0% on the failures to stretch bounces off $38.91 beyond $40.05. 100-day SMA n the bears’ radar but bullish MACD can restrict further downside. Friday’s high adds to the upside barrier beyond the 50-day SMA. WTI keeps the previous day’s bearish momentum while declining to $39.44, down 1.09% intraday, during the pre-European open trading on Tuesday. In doing so, the oil benchmark stretches the U-turn from 50-day SMA towards 100-day SMA. 50% Fibonacci retracement of WTI’s June-August upside, near $39.25, offers immediate support to the quote ahead of the 100-day SMA level of $38.54. However, bullish MACD can… 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.