WTI settled around $55.45 before the opening bell rings on Monday. The energy benchmark dropped beneath two-week old trend-line on Friday but didn’t slip under another support-line that joins the lows marked in December 2018 and February 2019, at $55.00 now. Should prices refrain from declining below $5.00 support, chances of their bounce to $56.10 and then to $56.70 can’t be denied. However, recent high around $57.60, 61.8% Fibonacci expansion of February month moves near $58.70 and an upward sloping trend-line connecting January – February highs at $58.80 may challenge bulls then after. In a case when the quote can’t turn sellers away and drop under $55.00, 23.6% Fibonacci retracement of its December – February increase at $53.90 and $52.80 are likely immediate supports to appear on the chart. Additionally, bears’ control over the momentum after $52.80 might not refrain from calling 38.2% Fibonacci retracement level of $51.70 and $51.00 on the chart. WTI 4-Hour chart 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 Gold Technical Analysis: DXY en-route to test H&S neckline resistance; Gold bears look to 38.2% Fibo at $1,275/oz FX Street 4 years WTI settled around $55.45 before the opening bell rings on Monday. The energy benchmark dropped beneath two-week old trend-line on Friday but didn't slip under another support-line that joins the lows marked in December 2018 and February 2019, at $55.00 now. Should prices refrain from declining below $5.00 support, chances of their bounce to $56.10 and then to $56.70 can't be denied. However, recent high around $57.60, 61.8% Fibonacci expansion of February month moves near $58.70 and an upward sloping trend-line connecting January - February highs at $58.80 may challenge bulls then after. In a case when the quote can't… 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.