West Texas Intermediate crude took a jump off a cliff on the trade war noise which has thrown the technicals out of shape. Indeed, we had the largest front-month contract percentage decline since Feb. 4, 2015 and the worst settlement since June 19 of this year. So, technically, the price is now well below the daily moving averages. The 61.8% Fibo retracement of the June to mid-July swing lows and highs was broken and the price actually dropped below there but settled around it on Wall Street’s close. Bears can target the 50 handle on an escalation of the trade wars and 58.40 on the wide upside on a recovery of risk appetite. 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 Secretary of State: China has taken advantage of trade for decades – Bloomberg FX Street 4 years West Texas Intermediate crude took a jump off a cliff on the trade war noise which has thrown the technicals out of shape. Indeed, we had the largest front-month contract percentage decline since Feb. 4, 2015 and the worst settlement since June 19 of this year. So, technically, the price is now well below the daily moving averages. The 61.8% Fibo retracement of the June to mid-July swing lows and highs was broken and the price actually dropped below there but settled around it on Wall Street's close. Bears can target the 50 handle on an escalation of the trade… 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.
