Oil Technical Analysis: WTI at daily lows near $59.00 a barrel
|Oil daily chart
- Oil is trading above the 50 and 100-day simple moving averages (SMAs) suggesting a bullish bias.
- Crude oil WTI is trading above its main SMAs suggesting a bullish bias in the medium-term.
Oil 30-minute chart
- Oil is trading below its main SMAs suggesting bearish momentum in the near-term.
- Support is at 58.60, 58.40 and 58.00 level.
- To the upside, bulls will be looking at the 59.30, 59.75 and 60.20 resistances.
Additional key levels
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