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Oil technical analysis: WTI dips and rebounds near $63.00 a barrel

Oil daily chart

WTI (West Texas Intermediate) is trading in a bull trend above its main simple moving averages (SMAs)


Oil 4-hour chart

WTI is in consolidation mode between the 200 and 100 SMA.

Oil 30-minute chart

WTI is trading near the 63.00 figure and below the 50/100 SMAs suggesting further consolidation in the short term. The market could revisit 63.40 and 64.00 resistances. A break below 62.50 support can lead to an acceleration down to 61.90 and 61.60 level.


Additional key levels

WTI

Overview
Today last price63.04
Today Daily Change0.16
Today Daily Change %0.25
Today daily open62.88
 
Trends
Daily SMA2063.03
Daily SMA5062.01
Daily SMA10057.85
Daily SMA20060.16
Levels
Previous Daily High63.83
Previous Daily Low62.71
Previous Weekly High63.83
Previous Weekly Low60.79
Previous Monthly High66.57
Previous Monthly Low60.23
Daily Fibonacci 38.2%63.14
Daily Fibonacci 61.8%63.4
Daily Pivot Point S162.45
Daily Pivot Point S262.02
Daily Pivot Point S361.33
Daily Pivot Point R163.57
Daily Pivot Point R264.26
Daily Pivot Point R364.69

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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