WTI Daily Chart:
WTI rebound from $42.63 has been capped yesterday below $54.67 formed resistance on last Dec. 4, as The mixture has been satisfied by reaching $54.50 in the beginning of the week, before retreating could be extended yesterday to $52.08.
WTI rose back for trading currently near $53.30 in its day number 16 of consecutive being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $51.89.
WTI rebound from $42.63 has been capped below 38.2% Fibonacci retracement level of its falling from $76.79. This rebound could send it back above its daily SMA50 but it's still undermined by continued existence below its daily SMA100 and its daily SMA200.
WTI daily RSI-14 is still referring to existence inside its neutral area reading now 57.728.
WTI daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having its main line now inside its neutral region at 70.610 leading to the downside its signal line which is higher in this same area at 78.736, after negative crossover just below the overbought area above 80.
Important levels: Daily SMA50 @ $51.12, Daily SMA100 @ $60.02 and Daily SMA200 @ $64.24
Experienced S&R:
S1: $50.63
S2: $44.35
S3: $42.63
R1: $54.67
R2: $58.16
R3: $61.42
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
WTI rebound from $42.63 has been capped yesterday below $54.67 formed resistance on last Dec. 4, as The mixture has been satisfied by reaching $54.50 in the beginning of the week, before retreating could be extended yesterday to $52.08.
WTI rose back for trading currently near $53.30 in its day number 16 of consecutive being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $51.89.
WTI rebound from $42.63 has been capped below 38.2% Fibonacci retracement level of its falling from $76.79. This rebound could send it back above its daily SMA50 but it's still undermined by continued existence below its daily SMA100 and its daily SMA200.
WTI daily RSI-14 is still referring to existence inside its neutral area reading now 57.728.
WTI daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having its main line now inside its neutral region at 70.610 leading to the downside its signal line which is higher in this same area at 78.736, after negative crossover just below the overbought area above 80.
Important levels: Daily SMA50 @ $51.12, Daily SMA100 @ $60.02 and Daily SMA200 @ $64.24
Experienced S&R:
S1: $50.63
S2: $44.35
S3: $42.63
R1: $54.67
R2: $58.16
R3: $61.42
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din