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WTI Technical Analysis: Here is the range to watch

by Joel Frank
23 March 2021
in Commodities, Insights, World
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Currently trading at just north of the $60 per barrel mark, WTI is trading near the middle of its recent trading range. To the upside, there is notable resistance in the $63.00-$64.00 area, including the 21DMA. To the downside, there is notable support in the low-$58.00-mid-$59.00 area, including the 50DMA. Given the (mostly) bullish fundamental long-term backdrop for crude oil markets, many desks remain bullish and may be keen to buy on dips.  

Tags: Covid-19OPEC+PandemicVACCINEWTI
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