Oil Price Analysis: WTI consolidates gains near monthly highs


  • WTI recovery is taking a breather below the May’s highs.
  • Strong resistance can be awaiting near the 34.00 level.
 

WTI four-hour chart

 
The crude oil recovery is taking a breather after printing fresh May’s highs. The market is trading above its main SMAs on the four-hour chart suggesting bullish momentum in the medium-term. However, as crude oil remains in an overall downward trend it remains to be seen if the market can surpass the April’s highs near the 32.20 in a sustainable fasion. On the flip side, sellers would need a daily close below the 31.00 support in order to reclaim the 28.00 level. 
 
 
 
Resistance: 34.00, 36.00
Support: 31.00, 28.00
 

Additional key levels

XAG/USD

Overview
Today last price 17.19
Today Daily Change 0.09
Today Daily Change % 0.53
Today daily open 17.1
 
Trends
Daily SMA20 15.71
Daily SMA50 14.94
Daily SMA100 16.36
Daily SMA200 16.95
 
Levels
Previous Daily High 17.57
Previous Daily Low 16.88
Previous Weekly High 16.73
Previous Weekly Low 15.28
Previous Monthly High 15.85
Previous Monthly Low 13.82
Daily Fibonacci 38.2% 17.14
Daily Fibonacci 61.8% 17.31
Daily Pivot Point S1 16.8
Daily Pivot Point S2 16.5
Daily Pivot Point S3 16.11
Daily Pivot Point R1 17.49
Daily Pivot Point R2 17.87
Daily Pivot Point R3 18.17

 

 

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