Oil Technical Analysis: WTI blasting up towards $63.00 a barrel

FX Street

Updated: 6 May. 2019 | 19:52

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

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