economic calendar<\/a>. <\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Failed Weekly Breakout The initial rally on Wednesday hit resistance around the 50-Day MA, before sellers took charge. It also triggered a breakout above the three-week high of $65.06. An advance above that high, followed by it being confirmed with a daily close above it, will set the stage for higher prices. In other words, downward pressure remains unless crude can close above the three-week high. Since the 50-Day MA is currently lower than that, it would have also been reclaimed by then, providing further bullish evidence. Rejection of Price at 50-Day Line Nonetheless, the clear downside rejection from the 50-Day MA could lead to a deeper pullback before another breakout attempt is made. Notice the reaction during the previous rally that tested the 50-Day MA in early-April. Buyers were able to push the price above the line for a couple days before a bearish reversal took hold. During the current approach, sellers took charge relatively earlier than the prior test of the 50-Day line. This is a bearish sign that has been dampened so far by the 20-Day MA support. Deeper Pullback Targets $59.91 Therefore, a deeper pullback towards the 50% retracement at $59.91 or the 61.8% Fibonacci retracement level at $58.95 may occur before crude oil is ready for a more serious bullish breakout attempt. This is not surprising and consistent with the development of a bottom. 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":46690,"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-46689","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\/46689","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=46689"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/46689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/46690"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=46689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=46689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=46689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}