WTI Technical Analysis: $51.65 gains market attention
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WTI Technical Analysis: $51.65 gains market attention

  • WTI remains around $52.50 before Asian market open on Monday.
  • The prices continue respecting a month-old upward sloping trend-line, currently at $51.65.
  • With the recent lower highs during the last-week the quote may drop to $50.60 and $50.30 on the break of $51.65 support-line. Though, $50.00 might challenge the sellers.
  • In case bears refrain to respect the $50.00 round-figure, the $49.10-$49.00 support-zone should be important to watch.
  • Alternatively, a descending resistance-line at $53.45 can continue limiting near-term upside of the WTI, breaking which $54.20 and the $55.00 may gain buyers’ attention.
  • Should there be additional rise beyond $55.00, the $55.60 and the 61.8% Fibonacci expansion (FE) level of its recent up-moves may flash on Bulls’ radars.

WTI 4-Hourly charts


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