WTI remains on the back foot inside following its U-turn from 61.8% Fibonacci retracement. Channel’s support, 23.6% Fibonacci retracement could check further downside. Buyers could target $30.00 during the sustained run-up. Following its U-turn from the key Fibonacci retracement, WTI forms a short-term falling channel while declining to $23.10. 23.6% Fibonacci retracement of March 13-30 fall and the channel’s support, near $22.50/40, can question the oil benchmark’s immediate downside. If bears chose to ignore the channel formation, $20.50, $19.80 and the previous month’s low near $19.00 could return to the charts. On the upside, 38.2% and 50% of Fibonacci retracement, respectively around $24.470 and $26.50, could challenge the black gold’s recovery ahead of the channel’s resistance near $27.15. Also exerting downside pressure on the oil prices could be 61.8% Fibonacci retracement level near $28.25 that holds the gate for $30.00. WTI four-hour chart Trend: Bearish 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 Japanese Industry Minister urges G20 energy summit to address importance of stable oil prices FX Street 2 years WTI remains on the back foot inside following its U-turn from 61.8% Fibonacci retracement. Channel’s support, 23.6% Fibonacci retracement could check further downside. Buyers could target $30.00 during the sustained run-up. Following its U-turn from the key Fibonacci retracement, WTI forms a short-term falling channel while declining to $23.10. 23.6% Fibonacci retracement of March 13-30 fall and the channel’s support, near $22.50/40, can question the oil benchmark’s immediate downside. If bears chose to ignore the channel formation, $20.50, $19.80 and the previous month’s low near $19.00 could return to the charts. On the upside, 38.2% and 50% of Fibonacci retracement,… Top 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.
