EUR/USD 1.17836
0.231%
Gold 3333.43
0.225%
Oil 65.503
-1.221%
USD/JPY 144.435
-0.325%
GBP/USD 1.36507
-0.034%
GBP/JPY 197.170
-0.341%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukrainian President Zelensky: The call with US President Trump achieved fruitful results.According to the Washington Post: Europe is pushing for Iran nuclear talks but says hopes of a deal are slim.July 4, Yermak, the Ukrainian presidents chief adviser, confirmed on Friday that Zelensky had a phone call with US President Trump, and the Ukrainian leader tried to urge Washington to resume the delivery of key weapons. Just hours before the two sides exchanged views, Russia launched the largest airstrike on the Ukrainian capital since the war began in 2022. Trump also spoke with Russian President Putin on the phone, and Trump said he was "very disappointed" with the call. Yermak said the dialogue between the two presidents was "very important and meaningful." "All the details will be announced soon," he added.July 4: When asked whether a deal can be reached with the United States by the July 9 deadline set by Washington, Indian Trade Minister Piyush Goyal said India is ready to reach a trade deal on the basis of national interest, not just to meet the deadline. Trump has threatened to impose a 26% tariff on all imports from India, which will take effect next week for countries that fail to reach an agreement by the deadline he set. Goyal said: "National interest is always paramount. Keeping this in mind, if a good deal can be reached, then India is ready to reach an agreement with developed countries at any time." "India has never reached any trade agreement on the basis of a deadline or time frame...We will only accept an agreement if it is fully finalized and in the national interest."Market news: The United States plans to impose AI chip restrictions on Malaysia and Thailand.

WTI Price Analysis: The 100-SMA examines Oil bears near $79

Alina Haynes

Jan 30, 2023 15:25

 23.png

 

WTI crude oil stays in the red for the second consecutive day after retreating from a one-week high the previous day, with intraday losses of 0.30% near $79.30 as the European day begins on Monday.

 

In doing so, black gold pokes the 100-bar Simple Moving Average (SMA), which is approximately $79.20 at the time of publication.

 

The energy benchmark's decline may be related to the price's failure to cross the support-turned-resistance from January 12 in the early Asian session. Downward-sloping MACD signals and a sinking RSI (14) line could bolster the bearish stance.

 

Notably, a break below the 100-day simple moving average (SMA) at $79.20 may struggle to appease Oil bearish, as the $79.00 mark and the 200-day SMA, close to $78.15, could challenge the price's further decline.


Suggestion