WTI technical analysis: Bulls have eyes for the 53 handle
- Oil managed a bid above the 200 weekly EMA overnight but has not pulled away entirely.
- The 61.8% Fibo is also located in this vicinity and has stablised the downside.
- However, a move lower could see this area give out to open the 14th Jan 50.41 low.
- The 26th November low comes in at 49.44.
- Bulls have their eyes set on 54.50 and then 55.20 meeting the 20-D EMA.
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