Oil Technical Analysis: WTI trading to daily lows near $63.60 a barrel
|Oil daily chart
- WTI is trading in a bull trend above its main simple moving averages (SMAs).
- Crude oil WTI is trading below $64.00 a barrel and its main 50 SMA suggesting a potential correction in the medium-term.
Oil 30-minute chart
- Crude oil WTI is trading below its main SMAs suggesting a bearish bias in the short-term.
- Bears need to break below 63.60 in order to reach 63.00 figure.
- If 63.60 support holds then 64.20 and 64.60 resistances are back in play.
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