Top three charts of the week: OIL.WTI, AUDUSD, US500

OIL.WTI

OIL.WTI launched today’s session with a strong decline.The price of this commodity broke below the major support at $36.5. If the market stays below it by the end of the day, it will mean that the market exits the consolidation range, where it has been trading since September. In such a scenario, the way towards bigger decline will be opened and the 127.2% and 161.8% exterior retracements could be at risk in the near term. To talk about an upward move, price would have to climb back above the aforementioned $36.5 zone.

OIL.WTI H4 interval. Source: xStation5

AUDUSD

Looking at the AUDUSD from a technical point of view, one can see that the pair did not manage to jump above the downward trend line and bounced off the 100-period moving average. Currently one can observe another attempt to break the support at 0.7030. If sellers bring the price lower, the way towards 0.6800 will be opened. In case of a rebound, the key resistance remains the zone at 0.7200.  The sellers may also appear near the aforementioned trendline.

AUDUSD D1 interval. Source: xStation5

US500

A strong decline could have been spotted on the stock market in recent days. Looking at the S&P500 (US500) from a technical point of view, one can see that the index is approaching the key support zone at 3,225 points, marked with previous price reactions. If buyers manage to halt declines there, another upward impulse could be launched. Should the price break below, the bulls have to pay attention to ,3155 pts support which is marked with the market geometry ( ABC correction).

US500 D1 interval. Source: xStation5