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  • Crude oil is in a bear trend below the 200-period simple moving average (SMA).  
  • Crude oil kept the bearish tone this Friday as WTI dipped below 63.00 a barrel. Technical indicators remain firmly negative suggesting further losses ahead.
  • The bias remains bearish and targets to the downside can be seen near 63.00 figure and 61.81 April 6 low.  

 Crude oil WTI 4-hour chart

Main Trend:              Bearish

Resistance 1:           63.59 June 18 low
Resistance 1:           64.00 figure
Resistance 2:           64.40 August low
Resistance 3:           65.00 figure
Resistance 4:           65.69 August 13 low
Resistance 5:           66.84 September low

Support 1:             63.00 figure
Support 2:             61.81 April 6 low
Support 3:             59.95 March 8  

Additional key levels at a glance:

WTI

Overview:
       Last Price:  63.03
       Daily change:  -55  pips
       Daily change:  -0.865%
       Daily Open:  63.58
Trends:
       Daily SMA20:  68.74
       Daily SMA50:  70.33
       Daily SMA100:  69.44
       Daily SMA200:  68.51
Levels:
       Daily High:  63.6
       Daily Low:  63.5
       Weekly High:  69.65
       Weekly Low:  66.08
       Monthly High:  76.25
       Monthly Low:  64.86
       Daily Fibonacci 38.2%:  63.56
       Daily Fibonacci 61.8%:  63.54
       Daily Pivot Point S1:  63.52
       Daily Pivot Point S2:  63.46
       Daily Pivot Point S3:  63.42
       Daily Pivot Point R1:  63.62
       Daily Pivot Point R2:  63.66
       Daily Pivot Point R3:  63.72