Home Oil Technical Analysis: Target achieved as Black Gold surges to $54.00 a barrel
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Oil Technical Analysis: Target achieved as Black Gold surges to $54.00 a barrel

Oil weekly chart

  • Oil WTI is evolving in a bear trend as it sharply reversed the yearly gains.  
  • As forecast,  $53.00 a barrel target has been achieved.

Oil 4-hour chart

  • Oil is attempting to break above the 100 SMA.  
  • The bullish target for next week can be located near 56.00 figure.

Oil 30-minute chart

  • 54.00 is currently providing strong resistance.
  • In the short-term, oil might correct down to 53.00 or 52.00 figure.

Additional key levels

WTI

Overview:
       Today Last Price:  53.65
       Today Daily change:  2.2e+2  pips
       Today Daily change %:  4.22%
       Today Daily Open:  51.48
Trends:
       Previous Daily SMA20:  53.27
       Previous Daily SMA50:  60.96
       Previous Daily SMA100:  65.46
       Previous Daily SMA200:  67.24
Levels:
       Previous Daily High:  51.74
       Previous Daily Low:  51.47
       Previous Weekly High:  52.13
       Previous Weekly Low:  49.64
       Previous Monthly High:  63.92
       Previous Monthly Low:  49.64
       Previous Daily Fibonacci 38.2%:  51.57
       Previous Daily Fibonacci 61.8%:  51.64
       Previous Daily Pivot Point S1:  51.39
       Previous Daily Pivot Point S2:  51.29
       Previous Daily Pivot Point S3:  51.12
       Previous Daily Pivot Point R1:  51.66
       Previous Daily Pivot Point R2:  51.83
       Previous Daily Pivot Point R3:  51.93

 

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