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投資銀行Bhd（RHb研究）維持其對WTI原油的看空交易偏好，因爲商品繼續向下走勢，下跌1.10美元，收於67.20美元。開盤價爲68.44美元，黑色黃金逐漸疲軟，整個交易日下探至66.98美元的低點，最終收於當天收盤價。
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研究預計，如果這種勢頭持續下去，WTI原油可能會測試其64美元的即時支撐位，進一步下跌有可能達到60美元。支撐位分別位於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.
建議交易者維持在10月15日以70.58美元啓動的空頭頭寸，設置止損閾值爲76美元以管理風險。商品的看淡前景反映了市場情緒和技術條件持續面臨的挑戰。
