WTI picks up bids near $39.57 during the pre-European trading on Wednesday. Though, the black still drops 0.55% intraday by the press time.
While 50-bar SMA restricts the energy benchmark’s short-term declines, recovery moves are tamed by 23.6% Fibonacci retracement of September 08-18 upside and 200-bar SMA.
Considering the latest pullback moves, WTI oil prices are likely to trim additional losses by challenging the 23.6% Fibonacci retracement level of $40.51. However, $40.00 may offer an intermediate halt during the rise.


Thread: 
Thanks
Currently Active Users
Forex Forum India Statistics