empty
 
 
08.05.2024 05:25 PM
Trading Signals for CRUDE OIL (WIT) for May 8-15, 2024: buy above $78.12 (21 SMA - 2/8 Murray)

This image is no longer relevant

Early in the American session, Crude Oil (WTI) is trading around 78.44 within a downtrend channel forming since April 11 and within a secondary bearish channel forming since April 29 under strong bearish pressure.

On the H4 chart, we can see that crude oil has been bouncing within this area. In case there is a sharp break above $78.49 per barrel price, the price could reach the 200 EMA located at 81.73.

This decline in crude oil has been accumulating for several days due to US statistics that indicate a significant increase in crude oil inventories and production.

Technically, crude oil is oversold since the eagle indicator reached the 5-point zone. It means that the market could see a technical rebound in the coming days.

In case crude oil falls below 2/8 Murray, a decline is expected to occur. So, the price could reach the support of 1/8 Murray located at 76.65.

Our trading plan for the next few days is to buy crude oil above 78.12. Additionally, if a sharp break occurs above the downtrend channel, we could look for opportunities to buy with targets at 4/8 Murray located at 81.25 and finally, at the top of the downtrend channel around 81.73.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $3000 más!
    ¡En Septiembre, sorteamos $3000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback