WTI Technical Analysis: Quick drop for Friday sees WTI testing into $53.00
|- Crude oil prices took another step lower in early Friday trading, pinging into the 52.60 territory before settling back near 53.25.
- WTI Chart, 5-Minute
- Despite Friday's early dip-and-rise, crude oil remains closely tied to recent action, with WTI currently chained to a range between the 38.2% Fibo retracement level at 54.36 and this week's new low at 52.59.
WTI Chart, 30-Minute
- Moving to the medium-term, crude barrel costs remain trapped in a steady bearish trend, set to close bearish for a seventh week straight as lower highs continue to mark in declining resistance as the 200-period moving average struggles to catch up to price action.
WTI Chart, 4-Hour
WTI
Overview:
Last Price: 53.38
Daily change: -62 pips
Daily change: -1.15%
Daily Open: 54
Trends:
Daily SMA20: 59.12
Daily SMA50: 66.36
Daily SMA100: 67.46
Daily SMA200: 68.05
Levels:
Daily High: 54.09
Daily Low: 53.84
Weekly High: 60.93
Weekly Low: 55.21
Monthly High: 76.25
Monthly Low: 64.86
Daily Fibonacci 38.2%: 53.99
Daily Fibonacci 61.8%: 53.94
Daily Pivot Point S1: 53.86
Daily Pivot Point S2: 53.73
Daily Pivot Point S3: 53.61
Daily Pivot Point R1: 54.11
Daily Pivot Point R2: 54.23
Daily Pivot Point R3: 54.36
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.