Technical Analysis and Outlook
WTI (West Texas Intermediate) crude oil rose slightly from their last settlement on Dec 31 to $45.70 on Jan 2.
Prices continue posting their three-day rise. Major Key Support $42.50 will serve as an intermediate stop of the vicious decline we had so far: however, the latest increase might be mitigated with a bounce to played/weaken Mean Resistance $47.18, and perhaps Oil Rally $50.40 - we shall see. (For Market Commentary, please visit the usual site).
WTI (West Texas Intermediate) crude oil rose slightly from their last settlement on Dec 31 to $45.70 on Jan 2.
Prices continue posting their three-day rise. Major Key Support $42.50 will serve as an intermediate stop of the vicious decline we had so far: however, the latest increase might be mitigated with a bounce to played/weaken Mean Resistance $47.18, and perhaps Oil Rally $50.40 - we shall see. (For Market Commentary, please visit the usual site).
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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.