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WTI technical analysis: en-route for the 200-D EMA around 58.80

2019-06-24 07:25

  • WTI is en-route for the 200-D EMA around 58.80

  • If price can't sustain a bid, bears can target back down to the 200 weekly EMA.

WTI was capped at the weekly 20-Experiential Moving Average. Bulls ran higher through the 20-D EMA and topped the 50-D EMA. Bulls are on track for the 200-day Exponential Moving Average, (EMA), and 4-hour 200 EMA.

A break there will expose the 30th May highs of $59.67 and of course the $60 psychological level. On the downside, the 200 weekly EMA (last week's low) and the 61.8% Fibo come into focus that guard prospects for a correction to back towards the14th Jan 50.41 low and then the 26th November lows at 49.44.





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