Price looks to be heading toward the USD 58 per barrel psychological resistance. The internal trendline and 61.8% Fibonacci level match slighty higher up. Spot WTI Daily Chart WTI has been on the rise today and trades 0.40% higher on the session. This is due to the OPEC report published earlier. Over the last few days, the price was not able to break USD 47.50 per barrel as price bounced off it eight times. The chart below looks slightly messy but it does show there is some traffic in the way of a move higher. The channel in red was created from an internal trendline which originated from the low back in August. It is well respected as it was used as support and resistance six times. Now above the price at the moment, there is also a 61.8% Fibonacci level and the price could meet the internal trendline and Fib level at the same time. Additional Levels 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 US Dollar Index technical analysis: DXY suck at monthly highs near 98.40 level FX Street 3 years Price looks to be heading toward the USD 58 per barrel psychological resistance. The internal trendline and 61.8% Fibonacci level match slighty higher up. Spot WTI Daily Chart WTI has been on the rise today and trades 0.40% higher on the session. This is due to the OPEC report published earlier. Over the last few days, the price was not able to break USD 47.50 per barrel as price bounced off it eight times. The chart below looks slightly messy but it does show there is some traffic in the way of a move higher. The channel in red… 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.
