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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2019 TradeOnline.ca InvestOnline.ca
WTI crude tested major support last week as indicated by the doji on the weekly candlestick chart. The doji is not a reliable indicator for calling bottoms because it represents ambivalence and a market can fall from its own weight. But, it did occur at a major support zone and this gives it more credence. I will look for a morning star formation as confirmation of a trend reversal at this significant support zone.
Reference my last chart analysis for West Texas Intermediate.
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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2018 TradeOnline.ca InvestOnline.ca
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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2018 TradeOnline.ca InvestOnline.ca
WTI will test major support around $42
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WCS discount to WTI was $18.22 USD/bbl on Dec 11, 2018
Oil Sands Magazine for a live chart
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WCS was trading at a discount of $28.50 USD/bbl compared to WTI on November 30, 2018
https://www.oilsandsmagazine.com/energy-statistics/oil-and-gas-prices
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Reference my last chart analysis for natural gas when the major and intermediate trends were sideways
https://www.oilsandsmagazine.com/energy-statistics/oil-and-gas-prices
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West Texas Intermediate broke near-term support around $65. It is trading below the 200 day simple moving average and the next major test is around $55 to $57.50.
Reference the last chart analysis for WTI.
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