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Oil Technical Analysis: WTI jumps above $55.00 a barrel

Oil daily chart

  • Crude oil WTI is trading in a bear trend below its 200-day simple moving average.

Oil 4-hour chart

  • WTI is trading above its main SMAs suggesting bullish momentum in the medium-term.  

Oil 30-minute chart

  • As expected yesterday, oil bounced as the market broke above the 55.00 figure.
  • The next objective for bulls is the 56.20 and 57.00 figure.
  • Support to the downside is seen at 54.60 and 54.00 figure.  

Additional key levels

WTI

Overview:
       Today Last Price:  55.48
       Today Daily change:  133 points
       Today Daily change %:  2.46%
       Today Daily Open:  54.15
Trends:
       Daily SMA20:  52.56
       Daily SMA50:  50.72
       Daily SMA100:  58.11
       Daily SMA200:  63.49
Levels:
       Previous Daily High:  55.48
       Previous Daily Low:  53.75
       Previous Weekly High:  54.51
       Previous Weekly Low:  51.91
       Previous Monthly High:  55.48
       Previous Monthly Low:  44.52
       Daily Fibonacci 38.2%:  54.41
       Daily Fibonacci 61.8%:  54.82
       Daily Pivot Point S1:  53.44
       Daily Pivot Point S2:  52.73
       Daily Pivot Point S3:  51.71
       Daily Pivot Point R1:  55.17
       Daily Pivot Point R2:  56.19
       Daily Pivot Point R3:  56.9

 

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