Crude Oil Price News and Forecast: JP Morgan revised WTI price forecast for 2020

Yohay Elam FXStreet

WTI renews multi-month highs above $61 after EIA data shows decline in US oil stocks

Crude oil prices rose for the fifth straight day on Wednesday and the barrel of West Texas Intermediate reached its highest level in three months at $61.17. As of writing, the WTI was up 1% on the day at $61.10.

WTI Oil Outlook: oil price eases but key supports still intact; crude inventories report eyed for fresh signals

US Crude Oil

WTI oil price eased from new three-month high at $60.93 on Wednesday, after Tuesday's API report showed unexpected rise in crude stockpiles (4.7 million barrels vs last week's build of 1.4 million barells).

WTI

Overview
Today last price	60.92
Today Daily Change	0.38
Today Daily Change %	0.63
Today daily open	60.54

Trends
Daily SMA20	58.36
Daily SMA50	56.67
Daily SMA100	56.11
Daily SMA200	57.77

Levels
Previous Daily High	61.05
Previous Daily Low	60.04
Previous Weekly High	60.46
Previous Weekly Low	58.11
Previous Monthly High	58.76
Previous Monthly Low	54.12
Daily Fibonacci 38.2%	60.66
Daily Fibonacci 61.8%	60.43
Daily Pivot Point S1	60.04
Daily Pivot Point S2	59.53
Daily Pivot Point S3	59.03
Daily Pivot Point R1	61.05
Daily Pivot Point R2	61.55
Daily Pivot Point R3	62.06

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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