Rising US crude exports, indicator for increased demand, and weakening of the dollar helped for a price surge of WTI, which broke and close above the 12 days formed resistance on the 4H graph.
The technical indicators are also suggesting a bullish movement, with MACD histogram above 0 line and rising and RSI above 50 neutral line.
If this movement continues, the price of the instrument might try to reach levels of 93.8, but in the opposite scenario the price might test its previous support at 82.7
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
The technical indicators are also suggesting a bullish movement, with MACD histogram above 0 line and rising and RSI above 50 neutral line.
If this movement continues, the price of the instrument might try to reach levels of 93.8, but in the opposite scenario the price might test its previous support at 82.7
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.