Oil Technical Analysis: Black Gold near daily lows as bears challenge $52.00 a barrel

Oil daily chart 

  • Crude oil WTI is in a bear trend below the 100 and 200-day simple moving averages (SMAs).

Oil 4-hour chart

  • The market is testing the 52.00 figure along with the 50 SMA. 

Oil 30-minute chart

  • Bulls will try to recapture the 53.00 figure as they are finding support at the 52.00 level. 
  • Support to the downside is seen at the 51.50 level.

Additional key levels

WTI

Overview:
    Today Last Price: 52.32
    Today Daily change: 71 pips
    Today Daily change %: -1.34%
    Today Daily Open: 53.03
Trends:
    Daily SMA20: 50.16
    Daily SMA50: 50.8
    Daily SMA100: 59.38
    Daily SMA200: 63.96
Levels:
    Previous Daily High: 54.35
    Previous Daily Low: 52.09
    Previous Weekly High: 54.17
    Previous Weekly Low: 50.65
    Previous Monthly High: 54.68
    Previous Monthly Low: 42.45
    Daily Fibonacci 38.2%: 52.95
    Daily Fibonacci 61.8%: 53.49
    Daily Pivot Point S1: 51.96
    Daily Pivot Point S2: 50.9
    Daily Pivot Point S3: 49.7
    Daily Pivot Point R1: 54.22
    Daily Pivot Point R2: 55.42
    Daily Pivot Point R3: 56.48

 

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