WTI Oil close to make a rebound around $48

WTI Oil close to make a rebound around $48

WTI Oil has been bearish across the board, but in an overall picture it’s still riding a bullish structure since mid-July. Currently, it’s poised to test the Fibonacci demand zone established between the 47.91 and 47.16 levels (50% - 65%), where it could gather bullish momentum to resume the bulls’ path and if that happens, the next key target is placed at the 51.58 level, according to the Fibonacci retracement plotted in the H1 chart.

RSI indicator is at the oversold territory, strengthening the idea of a short-term rebound.




Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera