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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.

Flavio Tosti Independent Analyst

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

WTI

Overview
Today last price	52.63
Today Daily Change	0.21
Today Daily Change %	0.40
Today daily open	52.42

Trends
Daily SMA20	56.52
Daily SMA50	60.65
Daily SMA100	58.81
Daily SMA200	58.92

Levels
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

Author

Flavio Tosti

Independent Analyst

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