Oil technical analysis: WTI breaks above $60.00 a barrel challenging June highs

Oil is breaking above June highs and $60.00 a barrel.
The next resistances to the upside can be located near 62.00 and 64.00.

Flavio Tosti Independent Analyst

Oil daily chart

WTI (West Texas Intermediate) is trading above June’s high and its main daily simple moving averages (DSMAs).

Oil 4-hour chart

Oil is in a bull trend above its main SMAs. Bulls likely intend to reach $62.00 a barrel and 63.00 to the upside.

Oil 30-minute chart

Oil is trading above its main SMAs suggesting bullish momentum in the near term. Immediate supports are seen at 59.70 and 58.50.

Additional key level

WTI

Overview
Today last price	60.32
Today Daily Change	1.91
Today Daily Change %	3.27
Today daily open	58.41

Trends
Daily SMA20	56.45
Daily SMA50	58.01
Daily SMA100	59.3
Daily SMA200	57.45

Levels
Previous Daily High	58.77
Previous Daily Low	57.4
Previous Weekly High	60.3
Previous Weekly Low	56.1
Previous Monthly High	59.93
Previous Monthly Low	50.72
Daily Fibonacci 38.2%	58.25
Daily Fibonacci 61.8%	57.92
Daily Pivot Point S1	57.62
Daily Pivot Point S2	56.82
Daily Pivot Point S3	56.25
Daily Pivot Point R1	58.99
Daily Pivot Point R2	59.56
Daily Pivot Point R3	60.36

Author

Flavio Tosti

Independent Analyst

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