Consolidates losses above $39.00, no-entry for bulls yet

 

  • WTI attempts recovery moves from intraday low of $39.33.
  • 50-bar SMA offers immediate support, 200-bar SMA guards upside moves.
  • Two-week-old ascending trend line, Friday’s top add filters to the momentum.

TopAsiaFX representative today’s market forecast

WTI takes bids near $ 39.57 during the European pre-trade Wednesday. Although the dark falls again intraday 0.55% at time of press.

While 50 SMA bar limits the reference to short-term power cuts, recovery moves are tamed by 23.6% Fibonacci retracement from September 08-18 in reverse SMA and 200 bar.

Given the recent decline in movements, WTI oil prices are likely to reduce further loss by questioning the level of Fibonacci retracement of 23.6% to $ 40.51. However, $ 40.00 can provide an intermediate stop during the ascent.

In addition to buyers question are the level of $ 41.23 SMA 200 bar and Friday’s high near $ 41.75.

Otherwise, 09 September high of $ 38.68 it can appeal to bear on the break level $ 39.46 including the immediate SMA support.

questioning also the weakness of WTI will be an upward trend line of lower early, to $ 38.00 now.

Comments

Post a Comment

Popular posts from this blog

Best 5 Educational Sites For Learning Forex Trading In 2020

Image
Forex trading is a booming industry in many countries these days. More and more people are seeking a way to participate in this market. Some are taking part in Forex courses or even trading school. Some are learning from friends. And others are learning on their own. That’s right, you can self-educate in Forex trading. So today, I will highlight to you 5 websites that are best to learn Forex trading if you want to learn it all by yourself. Therefore, without any further ado, let’s dive right in. Here are the deets… Top4ForexBrokers This is the best site if you’re looking for a good Forex broker and their basic information. This site lists every possible need for any type of trader. We all know that finding a good broker is an important part of the trade. It is equally important to the trading plan or strategy. I always had this to say: Everything you do, you do it on the broker’s platform. That means how well your broker will significantly affect your trading. That’s why choosing a sui
Read more

Forex Trading Strategy: A Complete Guide for Beginners

Image
The advent of international trade has brought many benefits, one of which is to consolidate the foundations of globalization. While other factors such as world peace and stability played a crucial role in the founding of globalization and the laws that govern it, international trade was essential to accelerate the process. In doing so, countries have been able to export crucial resources to other countries in the world and to import essential resources. In addition, changes during the period have also led these countries to launch a monetary system. Initially, these currencies were fixed to a specific commodity - gold at the moment - and then to the US dollar. However, as history will, most countries have chosen not finally come together and finally adopted a floating currency regime, one that allowed the currency of a country according fluctuate forces demand countries and supply in the market and not controlled by a government or indexed to a specific dominant currency (as was the ca
Read more

Read A Definite Guide About Forex Currency Pairs.

Before registering to get an account, it's important to know the basics of forex trading from currency pairs, etc. The currency pair compares the value of two currencies through the numerator / denominator relationship, with the base currency above and the currency quoted at the bottom. In the EUR / USD currency pair, the most popular currency trading instrument in the world, EUR is the base currency and USD is the quote currency. See around 2019 Top 10 Forex Brokers The EUR / USD quote shows a ratio that is roughly the same as what you will pay if you visit Paris and need to exchange dollars with euros. USD is equal to $ 1.00 in this calculation, so the quote "EUR / USD 1.23000" means that the euro is trading 23% more than the US dollar. Each proportion is quoted in two to five decimal places and also comes in a reverse version, which creates a new currency pair that moves in the opposite direction. To follow our example, EUR / USD measures the value of the eur
Read more