WTI oil may push higher

WTI oil may push higher

2019-11-11 • Updated

Trade idea

BUY 58.40; TP 59.60; SL 58.00

It looks like there’s a nice trade setup in WTI oil. The price rebounded from the 100-day MA in the 54.50 area last week and managed to push and close above 58.00 yesterday. Currently, the commodity is testing the 100-week MA at 58.35. A break of this level will open the way up to 59.60 (channel’s resistance, 50% Fibo of the 2018 decline). The longer-term picture is positive and the 50-day MA is about to rise above the 100-day one, so the buy trade has its solid logical foundations.

Notice that if you want to trade WTI, choose WTI-19J or WTI-19K in your MetaTrader (File - CFD Futures).

WTI.png

Similar

New UK Prime Minister is to Freeze Gas Bills
New UK Prime Minister is to Freeze Gas Bills

After the resignation of Boris Johnson in July 2021, the conservative party was preparing for an election. With 57.4% of the vote, Liz Truss will be the new UK Prime Minister (PM) for the next two years. She is about to change a lot, and we are about to tell you everything you need to know.

Latest news

European Currencies Ahead of the Banks' Statements
European Currencies Ahead of the Banks' Statements

On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.

Will the FOMC Surprise the Markets?
Will the FOMC Surprise the Markets?

The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?

What awaits the Oil Market in February?
What awaits the Oil Market in February?

Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

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