OctaFX | OctaFX Forex Broker
Open trading account
Back

Oil Price Analysis: WTI trades at its lowest since January 2019

  • WTI is trading in 14-month lows as bears remain in control. 
  • The path of least resistance is to the downside with 48 and $46 a barrel as potential targets.  
 

Crude oil daily chart

 
The crude oil West Texas Intermediate (WTI) is trading at 14-month low under $50 a barrel. 
 

Crude oil four-hour chart

 
Black gold is trading below the 49.60 support level while below the main simple moving averages on the four-hour chart (SMAs). The path of least resistance is to the downside as the market has room to fall further towards the 48 and 46 levels. 
 

Additional key levels 

 

USD/CHF bulls looking for bullish impulse to beyond Feb' highs, bears seek test below 0.9730s

USD/CHF is trading at 0.9766 having traded between a range of 0.9728 and 0.9778 and is firming on the day so far, +0.08% at the time of writing follow
Read more Previous

USD/CAD advances to fresh 2020 highs above 1.3330 on crude oil selloff

The USD/CAD pair struggled to make a decisive break above the 1.3300 handle for the majority of the day but gathered momentum during the American sess
Read more Next
Start livechat