Steady downside and fundamental catalysts portray near-term weakness. Symmetrical triangle holds the immediate moves confined. While gradual declines from $66.60 portray WTI weakness, the black gold presently follows a short-term symmetrical triangle as it tests $61.70 ahead of the European open on Thursday. However, failure to please buyers even after upbeat catalyst and trade tensions continue weighing on the price sentiment. As a result, a break of $61.45 support could trigger the energy benchmark’s drop towards eight-month-old ascending trend-line around $60.00. Given the bears refrain from respecting $60.00 as support, 61.8% Fibonacci retracement of its March – April upside, at $59.10, followed by $57.80, can please the bears. Meanwhile, an upside clearance of $62.00 pattern resistance can propel the quote towards 200-hour moving average that’s currently around $62.70. In a case where optimism sustains past-$62.70, late-April highs near $64.80 and the previous-month tops near $65.60 may grab market attention. WTI 4-Hour chart Trend: Bearish  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 Norges Bank to continue signalling a rate hike in the coming months – TDS FX Street 3 years Steady downside and fundamental catalysts portray near-term weakness. Symmetrical triangle holds the immediate moves confined. While gradual declines from $66.60 portray WTI weakness, the black gold presently follows a short-term symmetrical triangle as it tests $61.70 ahead of the European open on Thursday. However, failure to please buyers even after upbeat catalyst and trade tensions continue weighing on the price sentiment. As a result, a break of $61.45 support could trigger the energy benchmark's drop towards eight-month-old ascending trend-line around $60.00. Given the bears refrain from respecting $60.00 as support, 61.8% Fibonacci retracement of its March - April upside, at… 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.
