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

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

 

 

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