WTI stalls the bounce above $40 as hourly RSI turns flat. A firm break above $40.50 is needed for the further upside. 200-HMA guards the downside ahead of the API crude stocks data. WTI (futures on NYMEX) consolidates the bounce above the $40 barrier, having regained the 21-hourly Simple Moving Averages (HMA), currently at $39.75. The US oil traders have turned cautious ahead of the American Petroleum Institute’s (API) weekly crude stockpiles data release. The rebound in the black gold faltered below the critical $40.50 barrier, which is the confluence of the 100 and 50-HMAs. A break above which doors will open towards the $41 mark. The next upside target for the bulls will be the Monday high of $41.51. To the downside, the immediate cushion is seen at the previous resistance now support at 21-HMA. A failure to resist above the latter could call for a test of the horizontal 200-HMA at $39.16. The hourly Relative Strength Index (RSI) has turned south, suggesting that the recovery momentum appears to have fizzled out. WTI hourly chart WTI additional 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 NZD/USD consolidates Monday’s losses near 0.6680 ahead of key events FX Street 2 years WTI stalls the bounce above $40 as hourly RSI turns flat. A firm break above $40.50 is needed for the further upside. 200-HMA guards the downside ahead of the API crude stocks data. WTI (futures on NYMEX) consolidates the bounce above the $40 barrier, having regained the 21-hourly Simple Moving Averages (HMA), currently at $39.75. The US oil traders have turned cautious ahead of the American Petroleum Institute’s (API) weekly crude stockpiles data release. The rebound in the black gold faltered below the critical $40.50 barrier, which is the confluence of the 100 and 50-HMAs. A break above which doors… 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.
