Oil Technical Analysis: WTI pumping up and breaking above the 200-day simple moving average

Flavio Tosti Independent Analyst

Oil daily chart

Oil broke above 61.55 resistance and the 200-day simple moving averages (SMA) suggesting a bullish bias.

Oil 4-hour chart

Crude oil WTI is trading above its main SMAs suggesting a bullish bias in the medium-term.

Oil 30-minute chart

Bulls are looking for a break above $62.50 a barrel. The next resistances are seen at 63.00 and 63.50 level.
Support is at 61.60, 61.25 and 60.75 level.

Additional key levels

WTI

Overview
Today last price	62.37
Today Daily Change	0.54
Today Daily Change %	0.87
Today daily open	61.83

Trends
Daily SMA20	58.71
Daily SMA50	56.4
Daily SMA100	53.64
Daily SMA200	60.95

Levels
Previous Daily High	61.85
Previous Daily Low	60.23
Previous Weekly High	60.78
Previous Weekly Low	58.25
Previous Monthly High	60.78
Previous Monthly Low	54.79
Daily Fibonacci 38.2%	61.23
Daily Fibonacci 61.8%	60.85
Daily Pivot Point S1	60.76
Daily Pivot Point S2	59.68
Daily Pivot Point S3	59.14
Daily Pivot Point R1	62.38
Daily Pivot Point R2	62.92
Daily Pivot Point R3	64

Author

Flavio Tosti

Independent Analyst

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.