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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 its main SMAs suggesting a bullish bias in the medium-term.


Oil 30-minute chart

  • Oil is trading below its main SMAs suggesting bearish momentum in the near-term.
  • Support is at 58.60, 58.40 and 58.00 level.  
  • To the upside, bulls will be looking at the 59.30, 59.75 and 60.20 resistances.  


 

Additional key levels