Crude Oil(WTI):- Struggling at the resistance zone

Crude Oil(WTI):- Struggling at the resistance zone

Ankit Nagpal
20 Aug 2019 06:43 PM
A look at the daily technical chart of crude oil(WTI) is signalling that - the oil prices are struggling with moving average resistance at higher levels. Price action is below 50 and 200 day simple moving average - is an indication of downtrend. The averages are coming near current levels - 50day at $56.24 while 200 day mean is at $57.03 mark. It is clearly visible that both of the averages acted well in the past as strong resistance for crude oil

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