WTI struggles between 200-day EMA and 50% Fibonacci retracement while taking the bids to the six-week high. A 5.5-month old falling trend-line could challenge sellers after 200-day EMA. Despite breaking multi-month-old descending trend-line and 200-day exponential moving average (EMA), WTI struggles to extend the north-run as it trades near $58.00 during early Tuesday. 50% Fibonacci retracement of April-August declines, at $58.55, can be considered as an immediate upside barrier for the energy benchmark, a break of which could escalate the rise towards $60.00, 61.8% Fibonacci retracement of $60.50 and then to July month top close to $61.00. In a case prices slip below 200-day EMA level of $57.90, the resistance-turned-support at $57.15 and the 38.2% Fibonacci retracement level of $56.60 could come back on the chart. Should there be additional weakness past-$56.60, $54.80 and 23.6% Fibonacci retracement level of $54.30 should trigger the black gold’s pullback, if not then a rising trend-line since early August near $53.30 will be the key to watch. WTI daily chart Trend: sideways 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 Bitcoin technical analysis: BTC/USD making one step forward and two gigantic steps back FX Street 4 years WTI struggles between 200-day EMA and 50% Fibonacci retracement while taking the bids to the six-week high. A 5.5-month old falling trend-line could challenge sellers after 200-day EMA. Despite breaking multi-month-old descending trend-line and 200-day exponential moving average (EMA), WTI struggles to extend the north-run as it trades near $58.00 during early Tuesday. 50% Fibonacci retracement of April-August declines, at $58.55, can be considered as an immediate upside barrier for the energy benchmark, a break of which could escalate the rise towards $60.00, 61.8% Fibonacci retracement of $60.50 and then to July month top close to $61.00. In a case… 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.