- WTI crude oil breaks a significant level of 68.90
- Technical oscillators suggest a negative impulse
He has gained remarkable land after the sale interest to the minimum of almost two years of $ 65.36, exceeding the crucial resistance levels of the Fibonacci recoil level of 23.6% of the descending leg of $ 80.59 to $ 65.36 to $ 68.90 and the long -term rise line of trend.
However, from a technical perspective, impulse oscillators show a weak movement. The RSI points slightly above the territory of 50, while the stochastic registered a bearish crossing between its lines %K and %D in the overload region.
If the product falls below $ 68.90, you can challenge the simple mobile average (SMA) of 20 days to $ 68.00 before entering the descending channel. Under, the supports of $ 65.70 and $ 65.36 can cause negative actions.
On the other hand, a continuation of the leg above could recover 38.2% Fibonacci of $ 71.20, which remains close to the 50 -day SMA, before fighting with the $ 71.50 barrier. If the bulls continue to buy, 50.0% Fibonacci and the 200 -day SMA around $ 73.00 can be difficult obstacles.
In general, WTI crude oil showed some improvement in the previous days, but the technical oscillators suggest a negative bias.
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