Home Oil Technical Analysis: Black Gold bulls approaching $48.00 a barrel
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Oil Technical Analysis: Black Gold bulls approaching $48.00 a barrel

Oil daily chart

  • Crude oil WTI is trading in a bear trend below the 200-period simple moving average (SMA).

Oil 4-hour chart

  • Bulls want to test the 48.00 figure and the 100 SMA.  

Oil 30-minute chart

  • WTI is trading above its main SMAs. The current momentum is bullish and the level to beat for bulls is the 48.00 figure.
  • A break above 48.00 can lead to a continuation up to $49.00 a barrel.
  • To the downside, support is seen at the 46.00 and 44.00 levels.

Additional key levels

WTI

Overview:
       Today Last Price:  47.52
       Today Daily change:  1.0e+2  pips
       Today Daily change %:  2.24%
       Today Daily Open:  46.48
Trends:
       Previous Daily SMA20:  48.76
       Previous Daily SMA50:  53.46
       Previous Daily SMA100:  62
       Previous Daily SMA200:  65.42
Levels:
       Previous Daily High:  47.94
       Previous Daily Low:  44.52
       Previous Weekly High:  47.09
       Previous Weekly Low:  42.45
       Previous Monthly High:  54.68
       Previous Monthly Low:  42.45
       Previous Daily Fibonacci 38.2%:  46.63
       Previous Daily Fibonacci 61.8%:  45.83
       Previous Daily Pivot Point S1:  44.69
       Previous Daily Pivot Point S2:  42.89
       Previous Daily Pivot Point S3:  41.27
       Previous Daily Pivot Point R1:  48.11
       Previous Daily Pivot Point R2:  49.73
       Previous Daily Pivot Point R3:  51.53

 

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