The WTI oil price major support is now located at US$60.00
The WTI oil price major support is now located at US$60.00. The overnight decline has resulted in the oil price breaking into a lower technical trading range. It originally generated a technical sell signal at US$90.69 on 23/9/14, and progressively generated further technical sell signals as the price breached subsequent key technical levels. The technicals have remained negative since late September, with the oil price now down by 30% since the initial technical sell signal was generated.
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.