WTI oil is trading in consolidation mode

24 August, 2017

WTI oil is trading in consolidation mode

WTI oil is trading in consolidation mode on Thursday following strong rally on Wednesday after US crude stocks report showed further fall in inventories by 3.3 million barrels. Oil price rallied over 1% on Wednesday and hit high at $48.48.

South-turning 20SMA limited action and acting as initial resistance at $48.56, marking pivotal resistance zone with former highs and double-rejection at $48.72 and Fibo 61.8% of $50.41/$46.44 downleg at $48.89.

Daily studies are bullishly aligned and keep focus at the upside for eventual attack at $48.56/89 zone. Meantime, corrective easing should stay above $48.74 (converged 10/100 SMA’s) to keep near-term bulls in play. Increased downside risk could be expected on break here that would re-expose strong support $47.01 (daily cloud top).


Source link  
Cable is trading in consolidation

Strong bullish sentiment after Tuesday’s surge remains firmly in play and favors further upside...

Euro ticked higher

Flat near-term studies are lacking direction while dailies remain bearishly aligned and see risk of fresh weakness and return into daily cloud...


In the past 24 hours Bitcoin has lost -0.24% and reached $8822.7. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0% and is now at $0. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 20.81% and is now at $628.974. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro84%
5FIBO GroupFIBO Group82%
6FXCMFXCM70%
7XMXM68%
8Fort Financial ServicesFort Financial Services67%
9Alfa-ForexAlfa-Forex66%
10HotForexHotForex66%
  


Share: