Oil technical analysis: WTI boosted near 54.00 a barrel

FX Street

Published date: 7 Jun. 2019 | 18:47

The oil market got a boost above 53.00.
WTI remains under selling pressure below $55.00 a barrel

Oil daily chart

WTI (West Texas Intermediate) is under pressure below its main simple moving averages (SMAs).

Oil 4-hour chart

WTI managed to regain some strength above 53.00. If the market breaks above 55.00 key resistance the bulls can drive the market to 57.00. Support is seen at 53.00 and 52.00

Additional key levels

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