Home WTI technical analysis: Momentum indicators aligned bullish with $63.05 on bull’s radar

WTI technical analysis: Momentum indicators aligned bullish with $63.05 on bull’s radar

Updated: 16 May. 2019 | 01:18

WTI is supported with bullish MACD and stochastics in the bull’s favour.
Price supported at golden cross-level which is eclipsed in the chart below.
Price needs to get above 63 the figure as a firm resistance point. 62.30 is the first barrier before 62.80.
On the flipside, the 200 DMA guards the 50% Fibo level accumulating at 60.48/59.64 respectively.
A break of the 50% level opens prospects for the 25th March lows at 58.20.
The late Feb/early March highs are guarding a break to the early Feb highs at 55.80.

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