REDATOR Ben Graham Posted January 9 REDATOR Report Share Posted January 9 Crude oil is trading around $58.11 above the 200 EMA and above the 1/8 Murray level, which suggests it could continue its rise in the coming days until the price reaches the psychological level of $60.00.If WTI consolidates above $57.80 in the coming hours, any pullback will be seen as an opportunity to open long positions, with a target at $58.30.A decisive break above the downtrend channel while consolidating above the 200 EMA could be a clear signal for a bullish outlook. In the short term, WTI could reach $59.37 around 2/8 Murray and eventually reach 3/8 Murray at $61.50.A pullback and consolidation below $57.50 could mean a continuation of the bearish movement, during which the price could reach the key support of the 0/8 Murray around $56.25. WTI could even reach the bottom of the downtrend channel around $55.60.Given that crude oil is showing a strong positive signal, our outlook remains bullish. So, at current price levels, we could enter long positions or wait for a technical correction and continue buying over the next few days.The material has been provided by InstaForex Company - www.instaforex.com Visitante_2c07d671, Visitante_18a85bd6 and Visitante_dd0b16be 1 1 1 1 Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
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