$WTICOUSD $USO - Approaching Key Resistance Level
After bouncing off its Weekly Support Level of $52.422, WTICOUSD is making a run for its key resistance level of $57.14 (Red Diagonal Line).
A "Break and a Close" above this level will help to provide confidence for the commodity among global investors. However, WTICOUSD continues to make lower highs within a downward trend.
The next move at this level will be key for determining the next direction for WTICOUSD over the coming sessions.
A "Break and a Close" above this level will help to provide confidence for the commodity among global investors. However, WTICOUSD continues to make lower highs within a downward trend.
The next move at this level will be key for determining the next direction for WTICOUSD over the coming sessions.
Comment:
As expected - $WTICOUSD failed to breach the level of of $57.14 (Red Diagonal Line) and is moving lower.
