Home Crude Oil WTI Technical Analysis: Bulls are alive and kicking targeting $59.33 a barrel
FXStreet News

Crude Oil WTI Technical Analysis: Bulls are alive and kicking targeting $59.33 a barrel

Crude Oil weekly chart

  • Crude oil is in a steep bear trend as it erased the yearly gains.  

Crude Oil 4-hour chart

  • Oil is trading is a sideways consolidation at yearly lows.  
  • The RSI, MACD and Stochastic indicators are constructive to the upside.  

Crude oil 30-minute chart

  • As expected oil found support just above 55.00 figure.  
  • Oil is back into the channel.
  • The resistance to break is at 57.55. A move beyond would open the doors to 59.33

 

Additional key levels at a glance:

WTI

Overview:
       Last Price:  57.32
       Daily change:  5.0  pips
       Daily change:  0.0873%
       Daily Open:  57.27
Trends:
       Daily SMA20:  61.57
       Daily SMA50:  67.7
       Daily SMA100:  68.03
       Daily SMA200:  68.23
Levels:
       Daily High:  57.34
       Daily Low:  56.9
       Weekly High:  60.93
       Weekly Low:  55.21
       Monthly High:  76.25
       Monthly Low:  64.86
       Daily Fibonacci 38.2%:  57.17
       Daily Fibonacci 61.8%:  57.07
       Daily Pivot Point S1:  57
       Daily Pivot Point S2:  56.73
       Daily Pivot Point S3:  56.56
       Daily Pivot Point R1:  57.44
       Daily Pivot Point R2:  57.61
       Daily Pivot Point R3:  57.88

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.