WTI crude oil technical analysis

8 Nis

Crude oil prices opened lower on Monday. WTI crude oil prices were at $85.75 per barrel, down 1.05%. Brent crude oil prices were at $89.97 per barrel, down 1.32%.
Oil prices retreated on signs of a possible ceasefire between Hamas and Israel. However, Iran's response to the Israeli attack on Tehran's consulate in Damascus remains a factor in rising oil prices, and a bullish one at that.
WTI crude oil prices opened the week with a bearish gap, bringing the price close to the bullish channel support line. The EMA50 is near the channel’s support line to protect continued trading within the channel. Price is waiting to cover this gap and resume the bullish trend towards the next major target.
WTI crude oil's current trading pivot point is located at $84.62, with resistance levels at $86.14, $87.47 and $89.10. Support is found at $83.47, $82.23, and $80.56.

8 Nis

Not

active trade

8 Nis

Not

active trade

8 Nis

Not

active trade