MARKET NEWS

Latest Articles

    Featured Articles

    Filter By Topic
    Baxia Markets
    By
    April 27, 2022

    US Oil gains 3.1%

    technical analysis top header -01

    The energy commodity managed to recover the ground it lost in yesterday’s session but is finding resistance on the 23.6% Fibonacci retracement at $102.276, the pair temporarily broke that level but has not been yet able to complete the breakout.

     

    The Bollinger bands are wide enough to expect mild volatility, the pair got very close to the lower band in the previous trading session, which acted as a support level and helped the commodity gain some momentum in today's session. The pair trades between the bands, suggesting that the price is at a fair level.

     

    US Oil April 26th 2022

     

    The relative strength index is currently at 49% which would allow XTIUSD to continue gaining ground and potentially complete the breakout at $102.27. Our parabolic SAR indicator suggests that the price will continue to fall in the short term, we would like to wait and see if the resistance is broken in order to consider a long position.

     

    We love to hear new ideas from traders and want to know what you think! 

     

    If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

     

    Try Risk-Free Demo  

     

    Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

     

    Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

    energy, commodities, trading conditions, technical analysis, trading indicator

    Subscribe by Email