WTI recently reversed down from the resistance area lying between the pivotal resistance level 54.50 (which stopped the previous correction (4) in December), upper daily Bollinger Band and the 38.2% Fibonacci correction of the earlier downward impulse from October.
The downward reversal from this resistance area stopped the previous medium-term upward impulse wave (C) from the start of January.
Considering the overbought reading on the daily Stochastic indicator – WTI is likely to correct down further and re-test the next round support level 50.00 (low of wave (B)).
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
This website uses cookies
