Oil Price Analysis: WTI trades in three-week’s highs near $26.50 a barrel

Oil is well supported after Trump gives hope for a Saudi-Russian deal.
The level to beat for buyers is the 28.00 resistance.

Flavio Tosti Independent Analyst

WTI daily chart

WTI is jumping from multi-year lows following the US President Trump’s tweet of yesterday (Thursday) suggesting a Saudi-Russian deal was on the pipeline.

WTI four-hour chart

WTI is attempting to break from the range of the last weeks while holding above the 24.00 level and the 50/100 SMAs on the four-hour chart as a breakout above the 28.00 handle can introduce scope to further gains towards $32.00 a barrel. Support is seen near the 24.00, 22.00 and 20.00 levels.

Additional key levels

WTI

Overview
Today last price	28.75
Today Daily Change	2.51
Today Daily Change %	9.57
Today daily open	26.24

Trends
Daily SMA20	27.45
Daily SMA50	41.43
Daily SMA100	50.23
Daily SMA200	53.13

Levels
Previous Daily High	29.01
Previous Daily Low	22.57
Previous Weekly High	25.85
Previous Weekly Low	21.19
Previous Monthly High	48.74
Previous Monthly Low	20.57
Daily Fibonacci 38.2%	26.55
Daily Fibonacci 61.8%	25.03
Daily Pivot Point S1	22.87
Daily Pivot Point S2	19.5
Daily Pivot Point S3	16.43
Daily Pivot Point R1	29.31
Daily Pivot Point R2	32.37
Daily Pivot Point R3	35.74

Author

Flavio Tosti

Independent Analyst

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