FX.co ★ WTIUSD broke below ascending trendline support, potential drop!!

Price broke below ascending trendline support (now resistance). Price is also below moving average as well. A further drop below 1st resistance at 41.77 towards 1st support at 39.21 is possible

Trading Recommendation

Entry: 41.77

Reason for Entry:

38.2% Fibonacci retracement, Ascending trendline resistance

Take Profit: 39.21

Reason for Take Profit:

-27.2% Fibonacci retracement

Stop Loss: 42.35

Reason for Stop Loss:

61.8% Fibonacci retracement