- WTI Price Analysis: Bulls flip the script, run up to the 61.8% Fibonacci retracement
Market news
4 May 2023
WTI Price Analysis: Bulls flip the script, run up to the 61.8% Fibonacci retracement
- WTI bulls move back in with vigor as bears throw in their towels.
- WTI rallies hard from the lows right up to a 61.8% Fibo.
Crude oil, WTI, bulls have stampeded the bears back to a 61.8% Fibonacci retracement in what has been a highly volatile period over these past weeks. The price has dropped from the OPEC production cut highs of around $83.50bbls to a low of $63.61bbls.
WTI H4 chart
In Asia today, we have seen a very strong comeback as follows:
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