WTI fails to hold onto recovery gains beyond $34.05. Sellers await confirmation of the bearish technical pattern. Buyers will have to refresh monthly top to question 100-day EMA. WTI takes around to $34.00 amid the early Tuesday morning in Asia. While stepping back from $34.05, the oil benchmark seems to portray the rising wedge bearish technical formation on the hourly chart that needs confirmation with a downside break below $33.60. Should the quote declines below $33.60, which can be anticipated considering the RSI conditions, sellers can aim for a 200-hour EMA level of $31.20 ahead of looking at Friday’s low near $30.90. During the quote’s further downside past-$30.90, $30.00 may act as a buffer before pleasing the bears with a $28.85 mark comprising 61.8% Fibonacci retracement of Mat 13-21. Meanwhile, an upside clearance of the monthly high near $34.75 becomes necessary for the bulls to keep the reins. In doing so, 100-day EMA on the daily chart around $35.40 can gain their immediate attention ahead of March 11 top near $36.65. WTI hourly 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 AUD/JPY: Bearish case getting cheaper as each session passes FX Street 3 years WTI fails to hold onto recovery gains beyond $34.05. Sellers await confirmation of the bearish technical pattern. Buyers will have to refresh monthly top to question 100-day EMA. WTI takes around to $34.00 amid the early Tuesday morning in Asia. While stepping back from $34.05, the oil benchmark seems to portray the rising wedge bearish technical formation on the hourly chart that needs confirmation with a downside break below $33.60. Should the quote declines below $33.60, which can be anticipated considering the RSI conditions, sellers can aim for a 200-hour EMA level of $31.20 ahead of looking at Friday’s low… 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.
