Above the support level 56.87, nothing threatens long positions, and in case of resumption of positive dynamics, and after the breakdown of the local resistance level 58.88 (13-month highs), the growth of the WTI oil price will continue towards the local resistance level 63.50 and possibly above the 65.65 mark, near which a collapse fall in prices began in early January 2020 (see Technical and Fundamental Analysis on 12/02/2021)
Support levels: 56.87, 55.50, 53.87, 53.14, 51.69, 50.00, 45.00, 41.90
Resistance levels: 59.50, 63.50, 65.65
Trading recommendations
Sell Stop 56.80. Stop-Loss 58.30. Take-Profit 55.50, 53.87, 53.14, 51.69, 50.00, 45.00
Buy by market, Buy Stop 58.30. Stop-Loss 40.80. Take-Profit 59.00, 59.50, 63.50, 65.65*) for trading, I choose THIS BROKER and use VPS (to receive a bonus, enter the promo code - zomro_17601)
**) WTI oil: Current Fundamental Analysis and Market Expectations
