WTI’s 4-hour chart shows a symmetrical triangle breakout. A re-test of December highs could be in the offing. West Texas Intermediate (WTI), a North American oil benchmark, is currently trading at $48.75 per barrel, representing a 0.54% gain on the day. The 4-hour chart shows WTI has broken out of a narrowing price range represented by trendlines connecting Dec. 18 and Dec. 28 highs and Dec. 1 and Dec. 23 lows. The breakout is backed by an above-50 or bullish reading on the 4-hour chart Relative Strength Index (RSI). The daily chart RSI is also biased bullish. As such, the December high of $49.43 could come into play. On the downside, the trendline rising from Dec. 1 lows is the level to beat for the sellers. 4-hour chart Trend: Bullish Technical 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 USD/CNH Price Analysis: Ignores China PMI to refresh multi-month low below 6.5000 FX Street 1 year WTI's 4-hour chart shows a symmetrical triangle breakout. A re-test of December highs could be in the offing. West Texas Intermediate (WTI), a North American oil benchmark, is currently trading at $48.75 per barrel, representing a 0.54% gain on the day. The 4-hour chart shows WTI has broken out of a narrowing price range represented by trendlines connecting Dec. 18 and Dec. 28 highs and Dec. 1 and Dec. 23 lows. The breakout is backed by an above-50 or bullish reading on the 4-hour chart Relative Strength Index (RSI). The daily chart RSI is also biased bullish. As such, the… 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.
