WTI technical analysis: bulls bowe out of an advance towards the 200-D EMA
WTI has bowed out of an advance towards the 200-D EMA. Overnight trade had the pair capped at the weekly 20-Experiential Moving Average and moving below the 4HR 200 EMA. Bears can target back down to the 200 weekly EMA (last week's low) and the 61.8% Fibo. Should this give out, then there will be prospects for a correction to back towards the 14th Jan 50.41 low and then the 26th November lows at 49.44. On a correction, a break above the 200-D EMA opens the 30th May highs at $59.67 to put the bulls back on course for the $60 psychological level.
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.