Oil technical analysis: WTI breaks above $60.00 a barrel challenging June highs
|- Oil is breaking above June highs and $60.00 a barrel.
- The next resistances to the upside can be located near 62.00 and 64.00.
Oil daily chart
WTI (West Texas Intermediate) is trading above June’s high and its main daily simple moving averages (DSMAs).
Oil 4-hour chart
Oil is in a bull trend above its main SMAs. Bulls likely intend to reach $62.00 a barrel and 63.00 to the upside.
Oil 30-minute chart
Oil is trading above its main SMAs suggesting bullish momentum in the near term. Immediate supports are seen at 59.70 and 58.50.
Additional key level
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.