WTI oil has invalidated Tuesday’s Doji candle with a move above $58.00 A bull revival, however, needs a break above the key Fibonacci level of $58.63. WTI oil is currently flatlined near $58.25 per barrel. The black gold jumped 0.73% on Tuesday to print a close above Tuesday’s Doji candle’s high of $58.12. Usually, a positive follow-through to the Doji candle is considered a sign of bullish continuation. In this case, however, a break above $58.63 – the 61.8% Fibonacci retracement of the drop from $$63.33 to $51.03 – is needed to revive the bullish setup. The level has proved a tough nut to crack three times in the last four days. A daily close higher will likely accelerate the preceding bullish move and yield a test of $60.00. The market will likely test dip demand near $57.00 if the Fibonacci level again caps upside. Daily chart Trend: Bullish above $58.23 Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Source: EU’s Barnier pledges to prioritize UK trade deal post-Brexit – FT FX Street 3 years WTI oil has invalidated Tuesday's Doji candle with a move above $58.00 A bull revival, however, needs a break above the key Fibonacci level of $58.63. WTI oil is currently flatlined near $58.25 per barrel. The black gold jumped 0.73% on Tuesday to print a close above Tuesday's Doji candle's high of $58.12. Usually, a positive follow-through to the Doji candle is considered a sign of bullish continuation. In this case, however, a break above $58.63 - the 61.8% Fibonacci retracement of the drop from $$63.33 to $51.03 - is needed to revive the bullish setup. … 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.
