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

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  • 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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