WTI Oil – Rejected at 23.6% fib, eyes $48.00
Oil failed at $48.94 (23.6% fib) on Wednesday, faded spike above the same on Thursday and witnessed a rejection at the key fib level again in the Asian session today.
The price action suggests potential for a fall back to $48.00.
The short-term averages- 5-DMA and 10-DMA look overstretched, hence, prices may not drop much below $48.00 levels.
The price action suggests potential for a fall back to $48.00.
The short-term averages- 5-DMA and 10-DMA look overstretched, hence, prices may not drop much below $48.00 levels.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.