WTI Technical Analysis: $54.15-20 becomes immediate obstacle towards $55.55
|- WTI trades around $54.10 during the early Asian trading on Thursday.
- The commodity needs to surpass $54.15-20 horizontal-resistance in order to aim for an early-month high of $55.55. However, overbought levels of 14-bar relative strength index (RSI) may limit further upside.
- In case buyers refrain to respect the $55.55 barrier, 61.8% Fibonacci expansion of its early January-February move, around $57.50, can flash on their radar to target.
- Given the pair’s inability to rise past-$54.20, it can come back to $53.60 and $52.80 while an upward sloping trend-line connecting lows marked since January can hold further downside captive near $52.00.
- If at all prices keep declining under $52.00, $51.10 and $50.30 may entertain sellers ahead of pleasing them with $50.00 round-figure.
WTI 4-Hour chart
WTI
Overview:
Today Last Price: 54.61
Today Daily change: 26 pips
Today Daily change %: 0.48%
Today Daily Open: 54.35
Trends:
Daily SMA20: 53.63
Daily SMA50: 51.08
Daily SMA100: 56.25
Daily SMA200: 62.96
Levels:
Previous Daily High: 54.96
Previous Daily Low: 53.64
Previous Weekly High: 55.93
Previous Weekly Low: 52.05
Previous Monthly High: 55.48
Previous Monthly Low: 44.52
Daily Fibonacci 38.2%: 54.46
Daily Fibonacci 61.8%: 54.14
Daily Pivot Point S1: 53.67
Daily Pivot Point S2: 53
Daily Pivot Point S3: 52.35
Daily Pivot Point R1: 54.99
Daily Pivot Point R2: 55.64
Daily Pivot Point R3: 56.31
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