USOIL chart - Trading View
West Texas Intermediate (WTI) crude oil is trading 0.59% higher at $62.54 per barrel at around 04:20 GMT.
Price action is consolidating previous session's spike. The pair closed 5.50% higher on Monday's trade.
WTI hit new 13-month highs at 62.97 earlier in the day, before paring some gains, outlook strongly bullish.
Expectations that vaccine rollouts could lead the way to a swift global economic recovery keep oil prices buoyed.
Also, the recent cold blast in Texas which caused output disruptions has powered the North American oil benchmark to multi-year highs.
Technical indicators support gains. Price action has broken above 200W MA and major trendline resistance, has edged above 110 month EMA.
Price action has edged above monthly cloud and is on track to test 200 month MA at 69.53.
Overbought oscillators can cause minor pullbacks. Failure at 110 month EMA will negate further bullishness.


FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/ZAR firms ahead of Fed interest rate decision
FxWirePro: USD/CAD runs out of steam but maintains bullish outlook
FxWirePro : GBP/NZD strongly bearish despite upside attempts
FxWirePro: EUR/AUD regains upwards momentum but unable to hold above 50%fib level
FxWirePro: USD/JPY eases ahead of Fed decision , Intervention risks linger
FxWirePro: AUD/USD falls after softer-than-expected Australian Q2 CPI
FxWirePro: EUR/ AUD gains some ground , but remains on bearish path
Buy the Dips on EUR/JPY: Bullish Structure Points to 188 Target Ahead of Fed
FxWirePro- Major Pair levels and bias summary
JPY Pairs Action Bias: EURJPY Leads as Bullish Standout Amid Mixed Momentum
FxWirePro: GBP/USD edges higher as traders await BoE guidance and UK fiscal clarity
FxWirePro:EUR/NZD gains some upside momentum but still bearish
FxWirePro: GBP/USD edges lower ahead of Fed policy verdict
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/AUD gains some upside momentum but still bearish 



