Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
The price of WTI crude oil is around $56.58 per barrel and is likely to continue rising in the coming days until it reaches the 21 SMA located around $57.00, and could even reach the top of the downtrend channel around $57.81.
Crude oil has been consolidating above $55 during the last few sessions. If we compare this with the chart above, it is an area where 0/8 Murray is located, which represents strong support and, in turn, the bottom of the downtrend channel, which has enabled a recovery in WTI.
Given that the Eagle indicator is showing a positive signal, we can open long positions as long as the price consolidates above $55.60 or in case of a rebound towards $56.25, with a target at $57.80.
A sharp break below $55.60 could change the outlook for crude oil, and we could expect a sharp decline towards the -1/8 Murray located at $54.68.
Our outlook could remain bullish for crude oil for the next few days as long as the price consolidates above $55.60. Any pullback will be seen as an opportunity to open long positions.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
