Oil technical analysis: WTI is about to end the week just below $53.00 a barrel
|- WTI is trading in a range between $52.00 and $53.00 a barrel.
- Oil market remains bearish below $53.60, targeting $51.00 in case of a breakout.
Oil daily chart
WTI (West Texas Intermediate) is in a bear trend, below the main simple moving averages (SMAs).
Oil 4-hour chart
The market is under pressure below its main SMAs.
Oil 30-minute chart
The market is ending the week in a tight range. Bears need a break below $52.00 to reach $51.00. The level to beat for bulls is $53.00 in order to get to $53.60 and $54.00.
Additional key levels
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