Oil Technical Analysis for September 11, 2020 by FXEmpire
from fx empire this is chris taking a look at the crude oil market you can see that the wti has kind of done nothing during the day and quite frankly if you're bullish of wti that's
A good sign because we've seen so much in the way of negativity and then stability and then even more stability i think at this point though rallies are still to be sold into
40 should offer a significant amount of resistance quite frankly it's difficult to imagine a scenario where we suddenly turn back around doesn't mean we go straight down and
That's the point you want to fade signs of strength that then end up having long wicks on candles this can show that the sellers are starting to come back in i think 35 and then 30
Will be your most likely targets brent same situation looking at that 50-day ema as a bit of a ceiling i do think we break down below 40 and then eventually go looking to 35 and 30.
That being said uh brent will follow right along with wti