fxs_header_sponsor_anchor

News

Oil technical analysis: WTI confined below $57.00 a barrel in the New York session

  • WTI extends the consolidation theme between $56.00 a barrel and 57.00 resistance.
  • The levels to beat for bears are seen at 56.00 and 55.00 figure.

 

Oil daily chart

 
WTI (West Texas Intermediate) is consolidating below $57.00 a barrel for the 8th consecutive day as the market is below its main daily simple moving averages (DSMAs).
 

Oil 4-hour chart

 
WTI found resistance at the 57.00 mark and the 200 SMA keeping the consolidation theme intact for now.

Oil 30-minute chart

 
Earlier in the New York session, the market attempted to reach the 57.00 level but the market seems reluctant to break above this level just yet. The market is currently balanced between the 56.00 and 57.00 levels. However, bears would need a break below 56.00 to reach 55.00 on the way down.
 

Additional key levels

WTI

Overview
Today last price 56.51
Today Daily Change 0.32
Today Daily Change % 0.57
Today daily open 56.19
 
Trends
Daily SMA20 57.61
Daily SMA50 56.82
Daily SMA100 59.42
Daily SMA200 56.7
Levels
Previous Daily High 56.61
Previous Daily Low 55.73
Previous Weekly High 57.66
Previous Weekly Low 55.36
Previous Monthly High 59.93
Previous Monthly Low 50.72
Daily Fibonacci 38.2% 56.27
Daily Fibonacci 61.8% 56.07
Daily Pivot Point S1 55.74
Daily Pivot Point S2 55.3
Daily Pivot Point S3 54.86
Daily Pivot Point R1 56.62
Daily Pivot Point R2 57.06
Daily Pivot Point R3 57.5

 

 

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.


RELATED CONTENT

Loading ...



Copyright © 2025 FOREXSTREET S.L., All rights reserved.