Oil technical analysis: WTI is about to end the week just below $53.00 a barrel

• WTI is trading in a range between 52.00 and $53.00 a barrel.
• The market remains bearish below 53.60.

Oil daily chart

WTI (West Texas Intermediate) is in a bear trend below the main simple moving averages (SMAs).

Oil 4-hour chart

The market is under pressure below its main SMAs.

Oil 30-minute chart

The market is ending the week in a tight range. Bears need a break below 52.00 to reach 51.00. The level to beat for bulls is 53.00 in order to get to 53.60 and 54.00.  

Additional key levels