WTI Crude Oil: a break above 6000 takes us towards a selling opportunity
WTI Crude January Futures
WTI Crude trading sideways for a week in overbought conditions but with no sell signal yet we are likely to continue sideways, perhaps a little higher. We collapsed to 5810/00 & held, unfortunately not as far as our buying opportunity at 5785/75. Same levels apply for today.
WTI Crude holding minor support at 5875/65 again as I write to re-target 5915/25 before a retest of 5975/85. A break above 6000 takes us towards a selling opportunity at 6080/6100, with stops above 6140.
Below 5875/65 re-targets 5810/00 but try longs at 5785/75 with stops below 5750. A break lower is a sell signal targeting 5700/5690, perhaps as far as 5655/45. Read more…
Crude Oil (WTI) Intraday: expect 59.50
Pivot (invalidation): 58.60
Long positions above 58.60 with targets at 59.20 & 59.50 in extension.
Below 58.60 look for further downside with 58.35 & 58.10 as targets.
The RSI is mixed to bullish. Read more...
WTI erases EIA-inspired losses, trades above $59
Crude oil prices registered losses on Wednesday pressured by the weekly data published by the US Energy Information Administration (EIA). However, the International Energy Agency (IEA) monthly report helped ease concerns over the global energy demand outlook and allowed oil prices to recover.
The barrel of West Texas Intermediate, which came within a touching distance of $58 on Wednesday, was last seen trading at $59.10, adding 0.5% on a daily basis. Read more...
|Today last price||59.09|
|Today Daily Change||0.29|
|Today Daily Change %||0.49|
|Today daily open||58.8|
|Previous Daily High||59.25|
|Previous Daily Low||58.11|
|Previous Weekly High||59.9|
|Previous Weekly Low||55.41|
|Previous Monthly High||58.76|
|Previous Monthly Low||54.12|
|Daily Fibonacci 38.2%||58.55|
|Daily Fibonacci 61.8%||58.81|
|Daily Pivot Point S1||58.19|
|Daily Pivot Point S2||57.58|
|Daily Pivot Point S3||57.05|
|Daily Pivot Point R1||59.33|
|Daily Pivot Point R2||59.86|
|Daily Pivot Point R3||60.47|
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