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Oil daily chart

  • WTI is trading in a bull trend above its main simple moving averages (SMAs).

Oil 4-hour chart

  • Oil is having a strong reversal from $60.00 a barrel as the market is nearing the 200 SMA now at the 62.63 level.  

Oil 30-minute chart

  • WTI is pushing beyond 62.50 resistance and the 200 SMA.  
  • Bulls can continue the move up towards 63.20 and 64.00 resistances.
  • Support is seen at 62.50 and 61.80 level.

Additional key levels