Two Trades To Watch: FTSE, WTI Crude Oil - Monday, May 24

Where next for WTI crude oil? 

WTI crude oil managed to rise back above its 50 sma on the daily chart and ascending trendline dating back to late January, which it briefly moved below last week (OIL, BNO). 

Whilst the trendline holds, buyers could remain optimistic of a move back towards 6700 the May high. 

A move back below the ascending trend line at 63.50 and the 50 sma at 62.50 could prompt a deeper sell off towards 60.00 the 100 sma.  

 

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