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WTI wants to recover

WTI wants to recover

Information is not investment advice

WTI oil has found support in the 49.35 area for the second time this February. As concerns about the coronavirus ease, oil got a chance to recover. The price is currently testing the resistance of 50.80 (the area of the 2019 lows and the 50-period MA on the H4). The Awesome Oscillator on the H4 and the D1 timeframes are sending positive signals. As a result, an advance above 50.80 may trigger a correction up at least to 51.60/52.00.  

To trade WTI with FBS you need to choose WTI-20H in MT4.

WTI_OilH4.png

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