Oil technical analysis: WTI is about to end the week just below $53.00 a barrel

  • WTI is trading in a range between $52.00 and $53.00 a barrel.
  • Oil market remains bearish below $53.60, targeting $51.00 in case of a breakout.

Oil daily chart

WTI (West Texas Intermediate) is in a bear trend, below the main simple moving averages (SMAs).

Oil 4-hour chart

The market is under pressure below its main SMAs.

Oil 30-minute chart

The market is ending the week in a tight range. Bears need a break below $52.00 to reach $51.00. The level to beat for bulls is $53.00 in order to get to $53.60 and $54.00. 

Additional key levels


Today last price 52.63
Today Daily Change 0.21
Today Daily Change % 0.40
Today daily open 52.42
Daily SMA20 56.52
Daily SMA50 60.65
Daily SMA100 58.81
Daily SMA200 58.92
Previous Daily High 53.65
Previous Daily Low 51.14
Previous Weekly High 54.68
Previous Weekly Low 50.72
Previous Monthly High 63.97
Previous Monthly Low 53.13
Daily Fibonacci 38.2% 52.69
Daily Fibonacci 61.8% 52.1
Daily Pivot Point S1 51.16
Daily Pivot Point S2 49.89
Daily Pivot Point S3 48.65
Daily Pivot Point R1 53.67
Daily Pivot Point R2 54.91
Daily Pivot Point R3 56.18



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.1200 amid dovish ECB comments

EUR/USD is trading around 1.1200 after ECB officials expressed concern about global growth President Draghi will speak later. Tension is rising toward the Fed decision after US retail sales surprised on Friday.


GBP/USD pressured below 1.2600, Conservative contest in focus

GBP/USD is trading below 1.2600, consolidating the losses seen on Friday after US retail sales beat expectations. The Conservative contest is heating up ahead of tomorrow's second vote.


USD/JPY: wait-and-see continues ahead of Fed

The dollar consolidates its gains against most rival, and scarce data exacerbates the quietness. USD/JPY bullish above 108.90, bearish below 108.10.


Gold: Flirting with daily lows, around 200-hour SMA

A follow-through selling below 200-hour SMA will reinforce the negative outlook and accelerate the slide towards 38.2% Fibo. level support near the $1325 region ahead of Wednesday’s FOMC policy update.

Gold News

Gold: Signs of bullish exhaustion ahead of the Fed

Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision.

Read more