WTI’s technical outlook remains bullish while the price keeps above the double-top highs and above the 57.93 horizontal prior resistance line going back to mid-Nov 2018. However, the daily stochastics leans bearish for a pullback within the rising wedges structure to target 59 the figure. In recent sessions, the price has moved beyond 58.20 and the trendline support prior resistance of 59. If 59 holds, Bulls will look to the 61.8% Fibo of the Oct 2018 sell-off to late Dec lows around the 63.60/70 area again, reviving prospects for the 70 handle on a break above 64.20. A drop to 57.92 and below the wedge will open the case for a clean breakout to target 54.50 initially and 50.40/50 area as being the 23.6% Fibo support structure. 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 USD/CHF Technical Analysis: Bounce from 38.2% Fibonacci retracement struggle with 200-day SMA FX Street 4 years WTI's technical outlook remains bullish while the price keeps above the double-top highs and above the 57.93 horizontal prior resistance line going back to mid-Nov 2018. However, the daily stochastics leans bearish for a pullback within the rising wedges structure to target 59 the figure. In recent sessions, the price has moved beyond 58.20 and the trendline support prior resistance of 59. If 59 holds, Bulls will look to the 61.8% Fibo of the Oct 2018 sell-off to late Dec lows around the 63.60/70 area again, reviving prospects for the 70 handle on a break above 64.20. A drop… 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.
