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WTI trading at $94.47/bbl

By FXstreet.com,  January 10, 2013, 06:29:00 AM EDT

FXstreet.com (Barcelona) - According to Slobodan Drvenica, an analyst at Windsor Brokers Ltd., "An eventual break above the one-week consolidation top at 93.83 as well as psychological 94.00 and 94.35 levels (Fib 61.8% of 100.72/84.05) revitalized bulls from 84.05 (07 November low). In particular, the positive near-term structure suggests a thrust towards the 95.00 barrier and 95.33 (Fib 161.8% expansion of wave from 85.20 open)."

"The previous tops at 93.80 now act as immediate supports, ahead of range floor at 92.50 and ascending 55-day EMA at 92.30 that underpins the advance." notes Drvenica. At the time of writing, WTI crude has settled in the region of USD $94.47 Thursday.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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