WTI Technical Analysis: $52.80 keeps challenging buyers

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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

 

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