WTI technical analysis: en-route for the 200-D EMA around 58.80
- 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.
This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.