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  • WTI escalated prior gains to the intraday high of $52.80 before European markets open on Tuesday.
  • The energy benchmark struggles around a weeklong downward sloping trend-line, at $52.80, in order to justify its strength.
  • Should prices successfully clear $52.80 resistance-line, $54.20 and $54.90 may offer intermediate halts during rise to the current month high of $55.55.
  • During the quote’s extended rally beyond $55.55, 61.8% Fibonacci Retracement of its latest up-moves, at $57.50, could flash on buyers’ radar.
  • If at all the aforementioned trend-line continues to limit the upside attempts, an upward sloping support-line, at $51.80, may regain sellers’ attention.
  • Moreover, quote’s declines past $51.80 might not hesitate to visit $51.00 and the $50.30 ahead of diverting markets to $50.00 round figure.

WTI 4-Hour chart

Additional important levels:

Overview:
       Today Last Price:  53.1
       Today Daily change:  35  pips
       Today Daily change %:  0.66%
       Today Daily Open:  52.75
Trends:
       Daily SMA20:  53.47
       Daily SMA50:  51.03
       Daily SMA100:  56.65
       Daily SMA200:  63.08
Levels:
       Previous Daily High:  53.07
       Previous Daily Low:  51.56
       Previous Weekly High:  55.93
       Previous Weekly Low:  52.05
       Previous Monthly High:  55.48
       Previous Monthly Low:  44.52
       Daily Fibonacci 38.2%:  52.14
       Daily Fibonacci 61.8%:  52.49
       Daily Pivot Point S1:  51.85
       Daily Pivot Point S2:  50.95
       Daily Pivot Point S3:  50.34
       Daily Pivot Point R1:  53.36
       Daily Pivot Point R2:  53.97
       Daily Pivot Point R3:  54.87