Home Oil Technical Analysis: WTI is stabilizing above $63.00 a barrel after Friday’s drop

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Oil Technical Analysis: WTI is stabilizing above $63.00 a barrel after Friday’s drop

FX Street

Updated: 29 Apr. 2019 | 19:22

Oil daily chart

WTI is trading in a bull trend above its main simple moving averages (SMAs).
WTI is consolidating the $2.8 decline of last Friday.

Oil 4-hour chart

WTI found support at 62.50 and is now en route towards 64.00 the figure.
If bulls can breach that level then 65.00 can be the next resistance in line.
Support is seen at 61.80 and 60.50.

Additional key levels

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