OANDA:WTICOUSD After a sharp decrease yesterday starting from the Asia session and with the lowest point during the European session, US buyers managed to resist on monthly support in the 60.7x area and swing toward 62. Today quotation is following that pullback in order to potentially reach the 62.3x price range that was the starting area of the yesterday decline. If that attempt is successful the breakout of that level can open up the door for a further retracement in the 62.9x price range. A failure to break that resistance level will likely see a new downside attempt to target the 60 price range
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The 62.0x zone which used to act as a support yesterday is now turning into resistance. A cross of the 61.4x price range can trigger a new downtrend impulse