Rebound at OIL WTI is in progress. After new low on 11 February, when price reached to 26.00 rebound occurred and it lasts for today. At chart we can indicate uptrend channel in which price is moving. Currently upper limit of that channel is at 42.00 and there should occur some correction. However bigger falls may start when price will test area 43.20. If OIL breaks below support at 38.00 it will be a signal that upward movement was finished.

Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency. FxGrow launches new feature packed Website with technical analysis and economic calendar.

Time-frame H4

OIL-WTI_H4

Leave us a comment!

Ransquawk