Oil Technical Analysis: WTI at daily lows near $59.00 a barrel

Flavio Tosti Independent Analyst

Oil daily chart

Oil is trading above the 50 and 100-day simple moving averages (SMAs) suggesting a bullish bias.

Oil 4-hour chart

Crude oil WTI is trading above its main SMAs suggesting a bullish bias in the medium-term.

Oil 30-minute chart

Oil is trading below its main SMAs suggesting bearish momentum in the near-term.
Support is at 58.60, 58.40 and 58.00 level.
To the upside, bulls will be looking at the 59.30, 59.75 and 60.20 resistances.

Additional key levels

WTI

Overview
Today last price	59.07
Today Daily Change	-0.84
Today Daily Change %	-1.40
Today daily open	59.91

Trends
Daily SMA20	57.55
Daily SMA50	55.39
Daily SMA100	53.53
Daily SMA200	61.25

Levels
Previous Daily High	60.43
Previous Daily Low	59.71
Previous Weekly High	59.25
Previous Weekly Low	56.32
Previous Monthly High	57.92
Previous Monthly Low	51.56
Daily Fibonacci 38.2%	59.99
Daily Fibonacci 61.8%	60.15
Daily Pivot Point S1	59.6
Daily Pivot Point S2	59.3
Daily Pivot Point S3	58.88
Daily Pivot Point R1	60.32
Daily Pivot Point R2	60.74
Daily Pivot Point R3	61.04

Author

Flavio Tosti

Independent Analyst

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