EUR/USD 1.02749
-0.225%
Gold 2700.86
-0.497%
Oil 77.288
-0.681%
USD/JPY 156.146
0.645%
GBP/USD 1.21698
-0.580%
GBP/JPY 190.028
0.104%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 18, according to the U.S. Capitol Hill newspaper, before Mondays inauguration, U.S. President-elect Trump "won a battle" because the Capitol will raise the American flag to its highest level instead of lowering it to half-mast on the day of the inauguration. Trump had previously been angry about the idea of lowering the flag to half-mast in memory of former President Carter. Carter died on December 29, and Biden announced that he would lower the flag to half-mast for 30 days. It was U.S. House Speaker Johnson who came to the rescue and dispelled concerns that Trumps second term would start with a "half-mast mourning" scene. Earlier this week, Johnson wrote on social media that next Monday, "the flags at the Capitol will fly at full flag to celebrate our countrys unity after the inauguration of the 47th President Donald Trump." Johnson pointed out that the flag would be lowered to half-mast again the day after the inauguration to commemorate Carter.According to the Ukrainian Pravda: The battlefield analysis agency DeepState said that the Russian army has made progress in several settlements in Kharkiv and Donetsk.According to the Ukrainian National News Agency: Poland plans to send a defense industry delegation to visit Ukraine.According to the Jerusalem Post: A Hamas official claimed that mediators involved in the hostage and ceasefire negotiations included a clause allowing Israel to resume military operations in Gaza if Hamas violates the agreement.Russian Ministry of Defense: Russian air defense system shot down 46 drones in Russia at night.

WTI Price Analysis: Bearish Doji investigates Oil purchasers in the vicinity of $78.5

Alina Haynes

Jan 13, 2023 14:54

 72.png

 

WTI crude oil fluctuates at $78.50 as energy bulls take a breather following four consecutive days of gains. Nonetheless, the black gold's recent weakness or inability to increase further may be attributable to a bearish candlestick pattern on the four-hour chart and an overbought RSI (14).

 

In spite of this, the Gravestone Doji candlestick above the weekly high entices WTI sellers to revisit the $77.00-$76.90 support zone, which includes repeated lows since December 20. Nonetheless, the 200-SMA level near $76.75 could impede the commodity's further decline.

 

In the event that the quote stays bearish beyond $76.75, various obstacles around $75.00 could test the oil bears before emphasizing a rising support line from December 09, close to $73.35 at the absolute latest.

 

Alternatively, WTI crude oil prices must surpass the immediate high of $79.35 to defy the bearish candlestick's downward bias.

 

However, a three-week-old horizontal zone encompassing $80.95-81.10 may pose a threat to oil purchasers in the future.

 

Notably, the WTI crude oil's rise above $81.10 will require confirmation from the monthly high at $81.55 in order to target the previous month's peak of $83.30.

 

In conclusion, WTI crude oil is expected to have a pullback, but the bears face a rough road before regaining control.


Suggestion