economic calendar<\/a>. <\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Bearish Inside Day Forms Today, Thursday, crude oil consolidated forming an inside day with a high of $63.73 and low at $62.40. There are a couple indications of weakness provided from the day. Notice that the day\u2019s range is in the lower half of Wednesday\u2019s range, and at the time of this writing, crude oil is trading below the halfway point of the range and looks likely to close in a similar relatively bearish position. Moreover, the high for the day found resistance at a significant price level from May 2023 (dashed horizontal). That was the lowest traded price for crude oil until the recent sharp fall. Below $61.94 Points Lower A decline below today\u2019s low provides the next sign of weakening, while a deeper bearish retracement is signaled on a drop below Wednesday\u2019s low of $61.94. Notice that there is also a small rising trend line across the bottom of recent price action. That line will already be broken if Wednesday\u2019s low is triggered. If the decline is triggered there are two key areas to watch for support. The first is at a recent interim swing low of $60.40 and the 50% retracement at $60.27. Then, further down is a range from $59.08 to $58.86, defined by the 61.8% Fibonacci retracement and prior daily support, respectively. Weak Weekly Close Looks Likely There is one more day to the week with crude oil set to establish a second consecutive higher weekly high and higher weekly low. It reflects short term strength. But bearish price action following this week\u2019s high puts crude oil in a position to end lower for the period and likely below last week\u2019s high of $64.72. Therefore, the upside weekly breakout would not be confirmed on that time frame. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":44432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-44431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/44431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=44431"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/44431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/44432"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=44431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=44431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=44431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}