Despite the decline, WTI crude is traded in the bull market (see "Fundamental Analysis and Market Expectations")
. Above the resistance level 60.92, long positions will become relevant again, and a breakdown of the resistance level 63.75 will indicate a full recovery of long-term positive dynamics. After the breakdown of the local resistance level 68.00, the target will be the mark of $ 70.00 per barrel (the upper border of the rising channel on the daily chart).
Support levels: 58.60, 55.50, 53.87, 50.90, 49.00, 46.50, 45.00, 41.90
Resistance levels: 60.92, 63.75, 65.65, 68.00, 70.00
Trading recommendations
Sell Stop 59.50. Stop-Loss 61.40. Take-Profit 58.60, 55.50, 53.87, 50.90, 49.00, 46.50, 45.00, 41.90
Buy Stop 61.40. Stop-Loss 59.50. Take-Profit 63.75, 65.65, 68.00, 70.00
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**) WTI Oil: Current Fundamental Analysis and Market Expectations
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