ہمارے بہترین اسپریڈز اور شرائط

WTI crude oil remains on the back foot at the intraday low surrounding $76.50 as it prints the first daily loss in four, so far, heading into Friday’s European session. In doing so, the black gold reverses from the 200-DMA hurdle while justifying the overbought RSI (14) line.
With this, the energy benchmark is likely to witness further consolidation of the weekly gains while declining toward May’s monthly high of $74.70.
However, the 100-DMA and an upward-sloping support line from June 28, respectively near $73.60 and $73.10, will challenge the Oil bears before giving them control.
Should the WTI sellers keep the reins past $73.10, and also break the $73.00 round figure, the odds of witnessing a south run toward the $70.00 round figure and then to the previous monthly low of around $67.00 can’t be ruled out.
Alternatively, a daily closing beyond the 200-DMA level of $77.00 becomes necessary to convince the Oil buyers.
Even so, an eight-month-old falling resistance line, close to $77.70, acts as the last defense of the WTI bears and may prod further upside.
In a case where the energy benchmark rises past $77.70, the $80.00 psychological magnet and the yearly high marked in April near $83.40 will lure the Oil buyers.
Trend: Pullback expected