WTI recovers from the short-term falling trend line. 50% Fibonacci retracement, the four-week-old falling trend line on bulls’ radars. Sellers can aim for $20 following the sustained break of the support line. While bouncing off the monthly support line, WTI marks 3.2% gains to $23.85 ahead of the European open on Monday. That said, the energy benchmark eyes 38.2% and 50% Fibonacci retracements of March month downside, respectively around $25.60 and $27.65. However, the black gold’s further upside might find it difficult to cross a downward sloping trend line from March 16, currently at $28.05, amid the bearish MACD. Alternatively, 23.6% Fibonacci retracement level near $23.00 can act as immediate support ahead of the aforementioned trend line, close to $22.15 now. If at all the oil prices dip below $22.15, $20.00 can validate further declines below the previous month’s low of $19.00. WTI four-hour chart Trend: Further recovery 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 India considers opening some industries amid lockdown – Bloomberg FX Street 2 years WTI recovers from the short-term falling trend line. 50% Fibonacci retracement, the four-week-old falling trend line on bulls’ radars. Sellers can aim for $20 following the sustained break of the support line. While bouncing off the monthly support line, WTI marks 3.2% gains to $23.85 ahead of the European open on Monday. That said, the energy benchmark eyes 38.2% and 50% Fibonacci retracements of March month downside, respectively around $25.60 and $27.65. However, the black gold’s further upside might find it difficult to cross a downward sloping trend line from March 16, currently at $28.05, amid the bearish MACD. Alternatively,… 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.