Oil Technical Analysis: WTI bears challenging the daily low near $51.50 a barrel

Flavio Tosti Independent Analyst

Oil daily chart

Crude oil WTI is trading in a bear trend below the 50, 100 and 200-day simple moving averages (SMAs).

Oil 4-hour chart

WTI is testing the 50 SMA as bears are driving the price below $52.00 a barrel.

Oil 30-minute chart

Bears are breaking below 51.55 support as the market is trading below its mains SMAs.
A sustained move beyond that level would open the doors to 50.60 level and 50.00 the figure.

Additional key levels

WTI

Overview:
    Today Last Price: 51.62
    Today Daily change: -99 pips
    Today Daily change %: -1.88%
    Today Daily Open: 52.61
Trends:
    Daily SMA20: 48.55
    Daily SMA50: 51.02
    Daily SMA100: 60.02
    Daily SMA200: 64.3
Levels:
    Previous Daily High: 52.8
    Previous Daily Low: 51.56
    Previous Weekly High: 53.57
    Previous Weekly Low: 48.33
    Previous Monthly High: 54.68
    Previous Monthly Low: 42.45
    Daily Fibonacci 38.2%: 52.33
    Daily Fibonacci 61.8%: 52.03
    Daily Pivot Point S1: 51.85
    Daily Pivot Point S2: 51.08
    Daily Pivot Point S3: 50.61
    Daily Pivot Point R1: 53.09
    Daily Pivot Point R2: 53.56
    Daily Pivot Point R3: 54.33

Author

Flavio Tosti

Independent Analyst

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