Oil Technical Analysis: WTI ending the week hugging $53.00 a barrel

Flavio Tosti Independent Analyst

Oil daily chart

Crude oil WTI is trading in a bear trend below its 200-day simple moving average.

Oil 4-hour chart

Crude oil is trading between the 100 and 200 SMA suggesting a sideways market in the medium-term.

Oil 30-minute chart

WTI is trading below the 100 and 200 SMA suggesting bearish momentum in the short-term.
However, if bulls crack the 53.20 resistance to the upside, the market could reach 54.00 figure next week.
On the way down, investors can expect short-term support at the 52.00 and 51.50 level.

Additional key levels

WTI

Overview:
    Today Last Price: 52.99
    Today Daily change: 12 pips
    Today Daily change %: 0.23%
    Today Daily Open: 52.87
Trends:
    Daily SMA20: 53.33
    Daily SMA50: 51.03
    Daily SMA100: 57.09
    Daily SMA200: 63.21
Levels:
    Previous Daily High: 54.47
    Previous Daily Low: 52.05
    Previous Weekly High: 55.79
    Previous Weekly Low: 51.43
    Previous Monthly High: 55.48
    Previous Monthly Low: 44.52
    Daily Fibonacci 38.2%: 52.97
    Daily Fibonacci 61.8%: 53.55
    Daily Pivot Point S1: 51.79
    Daily Pivot Point S2: 50.71
    Daily Pivot Point S3: 49.37
    Daily Pivot Point R1: 54.21
    Daily Pivot Point R2: 55.55
    Daily Pivot Point R3: 56.63

Author

Flavio Tosti

Independent Analyst

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