Oil daily chart
- WTI is trading in a bull trend above its main simple moving averages (SMAs).
- WTI is back to April’s lows near 62.00 figure.
Oil 4-hour chart
- Oil is trading below its main SMAs suggesting a bearish momentum in the medium-term.
Oil 30-minute chart
- WTI is trading below its main SMAs suggesting a downward bias in the short-term.
- A break below 61.75 can see an extension of the bear leg towards 61.10.
- Resistance is at 62.50 and 63.25 level.
Additional key levels