Home Crude Oil WTI Technical Analysis: Bullish recovery remains intact as bulls support the market at $56.00 a barrel
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Crude Oil WTI Technical Analysis: Bullish recovery remains intact as bulls support the market at $56.00 a barrel

Crude oil weekly chart

  • Crude oil has erased the yearly gains as it plunged below the 58.00 level.

Crude oil 4-hour chart

  • Crude oil gave back most  of its intraday gains this Friday as it tested the 58.00 level.  
  • However, giving the recent bullish momentum, it is likely that bulls will give another try at breaking above 58.00 before a break to a new 2018 low.  

Crude oil 30-minute chart

  • Crude oil is evolving in a bull channel supported by the 100-period simple moving average.  

 

Additional key levels at a glance:

WTI

Overview:
       Last Price:  56.73
       Daily change:  28  pips
       Daily change:  0.496%
       Daily Open:  56.45
Trends:
       Daily SMA20:  62.52
       Daily SMA50:  68.23
       Daily SMA100:  68.26
       Daily SMA200:  68.31
Levels:
       Daily High:  56.56
       Daily Low:  56.45
       Weekly High:  63.05
       Weekly Low:  59.24
       Monthly High:  76.25
       Monthly Low:  64.86
       Daily Fibonacci 38.2%:  56.49
       Daily Fibonacci 61.8%:  56.52
       Daily Pivot Point S1:  56.41
       Daily Pivot Point S2:  56.38
       Daily Pivot Point S3:  56.3
       Daily Pivot Point R1:  56.52
       Daily Pivot Point R2:  56.6
       Daily Pivot Point R3:  56.63

 

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