WTI Crude Extends Losses, Bears Dominate
WTI Crude Extends Losses, Bears Dominate
Traders are advised to maintain the short positions initiated on Oct 15 at US$70.58, with a stop-loss threshold set at US$76 to manage risks. The commodity's bearish outlook reflects ongoing challenges in market sentiment and technical conditions.
RHB Investment Bank Bhd (RHB Research) maintained its short trading bias on WTI Crude, as the commodity continues its downward trend, falling by US$1.10 to close at US$67.20. Opening at US$68.44, the black gold gradually weakened throughout the session, reaching a low of US$66.98 before settling at the day's close.
RHb投资银行Bhd（RHb研究）维持其对WTI原油的看空交易偏好，因为商品继续向下走势，下跌1.10美元，收于67.20美元。开盘价为68.44美元，黑色黄金逐渐疲软，整个交易日下探至66.98美元的低点，最终收于当天收盘价。
The formation of a new "lower low" bearish candlestick indicates strengthening bearish momentum. Additionally, the Relative Strength Index (RSI) has turned lower, suggesting the potential for further downside movements in the near term. With the price remaining below the 50-day Simple Moving Average (SMA) line and the medium-term trend pointing downward, technical indicators favour the bears.
RHB Research anticipates that if this momentum persists, WTI Crude could test its immediate support level at US$64, with a further drop potentially reaching US$60. Resistance levels are positioned at US$72 and US$76.
RHb研究预计，如果这种势头持续下去，WTI原油可能会测试其64美元的即时支撑位，进一步下跌有可能达到60美元。支撑位分别位于72美元和76美元。
Traders are advised to maintain the short positions initiated on Oct 15 at US$70.58, with a stop-loss threshold set at US$76 to manage risks. The commodity's bearish outlook reflects ongoing challenges in market sentiment and technical conditions.
建议交易者维持在10月15日以70.58美元启动的空头头寸，设置止损阈值为76美元以管理风险。商品的看淡前景反映了市场情绪和技术条件持续面临的挑战。
