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WTI oil hits fresh 13-year low on probe below 27.54

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    WTI Crude Oil WTI oil eventually cracked critical 27.54 support, the lowest level since mid-2013, posted on 20 Jan, on fresh bearish acceleration that commenced from 28.70, today’s consolidation top, extending strong four-day fall and posting fresh low at 27.38, on first attempt through 27.54. The support is tough and we may see hesitation before final break lower, however, negative sentiment, supported by firm bears on all timeframes, doesn’t show much space at the upside. High of the day

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