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Oil Price Analysis: WTI taking a breather below $30.00 a barrel

  • WTI is consolidating last week’s advance while trading below the 30.00 mark.
  • Support can emerge near 24.00 and 22.00 levels. 
 

WTI daily chart

 
WTI consolidates last week’s advance as WTI is weighing the Trump tweet suggesting that a Saudi-Russian deal has been concluded. 
 

WTI four-hour chart

 
After regaining some strength last week, WTI is consolidating the advance below 30.00 resistance. As the main trend remains bearish, WTI could lose steam as bears eye the 24.00, 22.00 and 20.00 price levels while the main resistance is the 30.00 handle.
 

Additional key levels

WTI

Overview
Today last price 29.24
Today Daily Change 0.28
Today Daily Change % 0.97
Today daily open 28.96
 
Trends
Daily SMA20 26.81
Daily SMA50 40.48
Daily SMA100 49.68
Daily SMA200 52.84
 
Levels
Previous Daily High 30.58
Previous Daily Low 27.24
Previous Weekly High 30.67
Previous Weekly Low 21.01
Previous Monthly High 48.74
Previous Monthly Low 20.57
Daily Fibonacci 38.2% 28.52
Daily Fibonacci 61.8% 29.31
Daily Pivot Point S1 27.27
Daily Pivot Point S2 25.58
Daily Pivot Point S3 23.93
Daily Pivot Point R1 30.62
Daily Pivot Point R2 32.27
Daily Pivot Point R3 33.96

 

 

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