Home Crude Oil WTI Technical Analysis: Black Gold finding some relief above $50.00 a barrel after 7 weeks of selling
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Crude Oil WTI Technical Analysis: Black Gold finding some relief above $50.00 a barrel after 7 weeks of selling

Crude oil weekly chart  

  • Oil is about to end the week virtually unchanged for the first time in 7 weeks.  
  • The RSI and Stochastic are in oversold condition.

Crude oil 4-hour chart

  • Oil is trading in a strong bear trend below its main simple moving averages (SMAs).

Crude oil 30-minute chart

  • Bears objective is to bring back the market to 50.50 while bulls will try to push the market to the 53.00 figure next week.

Additional key levels

WTI

Overview:
       Today Last Price:  51.19
       Today Daily change:  -18  pips
       Today Daily change %:  -0.350%
       Today Daily Open:  51.37
Trends:
       Previous Daily SMA20:  55.49
       Previous Daily SMA50:  63.66
       Previous Daily SMA100:  66.4
       Previous Daily SMA200:  67.68
Levels:
       Previous Daily High:  51.38
       Previous Daily Low:  51.2
       Previous Weekly High:  57.42
       Previous Weekly Low:  50.13
       Previous Monthly High:  76.25
       Previous Monthly Low:  64.86
       Previous Daily Fibonacci 38.2%:  51.31
       Previous Daily Fibonacci 61.8%:  51.27
       Previous Daily Pivot Point S1:  51.25
       Previous Daily Pivot Point S2:  51.14
       Previous Daily Pivot Point S3:  51.07
       Previous Daily Pivot Point R1:  51.43
       Previous Daily Pivot Point R2:  51.5
       Previous Daily Pivot Point R3:  51.61

 

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