The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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Crude oil (WTI) is trading around $83.88 per barrel, with an upward bias, but retreating after reaching its high of $112.50. This high was last seen in July 2022, at the peak of the COVID-19 pandemic.
Crude oil is highly volatile. Therefore, after a rebound above $80.00 in the coming hours, WTI could reach $90.00 and even the psychological level of $100 around the 8/8 Murray. WTI is expected to continue rising in the coming days and could again reach the +1/8 Murray around $112,500.
The WTI price left a pullback around $88.50 over the weekend, which has already been covered. Hence, the bullish cycle is likely to resume in the coming hours and days if the price consolidates above the 21 SMA located at $85.70.
Given that fundamental data directly affects crude oil prices, WTI is expected to continue rising in the coming days and could even break $112.50 and reach the psychological level of $120 per barrel.
Given that the Eagle indicator reached extremely overbought levels and quickly corrected any pullback, as long as the price consolidates above the 200 EMA located at $69.20 or above $85.00, it will be seen as a signal to continue buying.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
