WTI Crude Oil chart
For the past three weeks, the daily bar chart pattern of WTI Crude Oil has been consolidating sideways within a range of 4 points - getting support at 67 but facing resistance at 71.
Oil's price closed above its three EMAs in bull territory, but formed a 'long-legged doji' candlestick pattern that indicates indecision among bulls and bears.
Daily technical indicators are looking neutral. MACD is above its signal line and moving sideways in neutral zone. RSI is also moving sideways in neutral zone. Slow stochastic is oscillating about its 50% level. The consolidation may continue a little longer.
On longer term weekly chart (not shown), oil's price closed above its three weekly EMAs in long-term bull territory. Weekly technical indicators are looking neutral to bearish. MACD is falling below its signal line in bullish zone. RSI is moving sideways in neutral zone. Slow stochastic has resumed its down move in bearish zone.
Brent Crude Oil chart
The daily bar chart pattern of Brent Crude Oil has been consolidating sideways within a 4 points range for the past three weeks - getting support at 76 but facing resistance at 80.
Oil's price closed above its three rising EMAs in a bull market, but is moving down towards its 20 day EMA and can correct some more.
Daily technical indicators are in bullish zones but showing downward momentum. MACD is about to cross below its rising signal line. RSI is sliding towards its 50% level. Slow stochastic is falling towards its 50% level.
On longer term weekly chart (not shown), oil's price closed above its three weekly EMAs in long-term bull territory. Weekly technical indicators are in bullish zones but not showing much upward momentum. MACD is rising towards its sliding signal line. RSI is moving sideways above its 50% level. Slow stochastic is facing resistance from the edge of its overbought zone.
For the past three weeks, the daily bar chart pattern of WTI Crude Oil has been consolidating sideways within a range of 4 points - getting support at 67 but facing resistance at 71.
Oil's price closed above its three EMAs in bull territory, but formed a 'long-legged doji' candlestick pattern that indicates indecision among bulls and bears.
Daily technical indicators are looking neutral. MACD is above its signal line and moving sideways in neutral zone. RSI is also moving sideways in neutral zone. Slow stochastic is oscillating about its 50% level. The consolidation may continue a little longer.
On longer term weekly chart (not shown), oil's price closed above its three weekly EMAs in long-term bull territory. Weekly technical indicators are looking neutral to bearish. MACD is falling below its signal line in bullish zone. RSI is moving sideways in neutral zone. Slow stochastic has resumed its down move in bearish zone.
Brent Crude Oil chart
The daily bar chart pattern of Brent Crude Oil has been consolidating sideways within a 4 points range for the past three weeks - getting support at 76 but facing resistance at 80.
Oil's price closed above its three rising EMAs in a bull market, but is moving down towards its 20 day EMA and can correct some more.
Daily technical indicators are in bullish zones but showing downward momentum. MACD is about to cross below its rising signal line. RSI is sliding towards its 50% level. Slow stochastic is falling towards its 50% level.
On longer term weekly chart (not shown), oil's price closed above its three weekly EMAs in long-term bull territory. Weekly technical indicators are in bullish zones but not showing much upward momentum. MACD is rising towards its sliding signal line. RSI is moving sideways above its 50% level. Slow stochastic is facing resistance from the edge of its overbought zone.
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