FXStreet – crude oil prices have started with the American trade, a technical upward movement and the Barrel of WTI could rise above the critical 50$. Currently, the WTI daily profit is 0.7% 50,15 $.
After the decline in the middle of the 49 with the early European trade, the Barrel of WTI his days high in the last hours at 50,30 $. For this movement there was no economic data and it seems to hold a technical correction to the strong losses of last Thursday, after the market’s philosophical works, the OPEC’s result as disappointing.
• Short EUR/CAD Long in the Oil to be Goldman Sachs
The Barrel of WTI has Resistances at 50,50 (daily high / High 19. May), 51,00 (psych. Level) and 52 (High of 25. May.) On the other hand, supports are located at 50 (psychological level), 49,30 (Deep 19. May) 48,45 (Deep 25. May).
** FXStreet News Editorial, FXStreet**