WTI ( Crude Oil, May’19 Contract): Weekly Technical Outlook March 25, 2019.

On the daily timeframe WTI May contract has reached the resistance area near 200 Day Moving Average and started giving the signs of bearish reversal by forming the bearish divergence and creating lower lows on the 4 hour chart.

The resistance zone is marked between the red dashed lines which is from 59.30 to 61.45.

The trade preference remains to sell the rallies until it invalidates by closing the daily above the given levels.

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