Oil Technical Analysis: WTI at daily highs challenging the 59.00 handle

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Oil daily chart

  • Oil is trading above the 50 and 100-day simple moving averages (SMAs) suggesting a bullish bias.

Oil 4-hour chart

  • Crude oil WTI is trading above the 100 and 200 SMAs suggesting a bullish bias in the medium-term.

Oil 30-minute chart

  • Bulls are looking for a break above 59.10. The next resistances are seen at 59.70 and 60.20 level. 
  • Support is at 58.60, 58.40 and 58.00 level. 

Additional key levels

 

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