empty
 
 
30.06.2020 03:43 AM
Trading plan for WTI Crude for June 30, 2020

This image is no longer relevant

Technical Outlook:

WTI Crude had rallied towards $41.50/60 highs on June 23, 2020, before pulling back lower again. The commodity is seen to be trading around $39.50 at this point in writing and is looking to drop further towards $34.35 levels in the short term. Immediate price resistance is seen towards $41.50/60, while support is at $34.34 levels respectively. Bears might be looking to break below $34.34 levels to gain control. Please note that the recent boundary which is being worked upon is between $41.50/60 and $37.00 levels. The corrective rally has managed to reach $39.87 levels, which is the Fibonacci 0.618 retracement of earlier drop. WTI Crude is expected to reverse lower from here and push towards $34.25, going further.

Trading plan:

Short now @ 39.50, stop @ 41.60, target @ 34.00 in the short term.

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
Oscar Ton
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In February we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback