Oil technical analysis: WTI skyrockets to $57.40 a barrel as the US-China trade war eases


  • WTI rises as the US says some tariffs won’t enter into effect until December 15.
  • The levels to beat for bulls is $57.40 a barrel.
 

Oil 4-hour chart

 
WTI (West Texas Intermediate) is up sharply as the US announced it would delay some of the planned tariffs to December 15. The market can potentially rise to 58.50 resistance but the bulls need a convincing break above 57.40 resistance. Support is seen at $56.00 and $55.00 a barrel.
 
 

Additional key levels

WTI

Overview
Today last price 56.88
Today Daily Change 2.19
Today Daily Change % 4.00
Today daily open 54.69
 
Trends
Daily SMA20 55.67
Daily SMA50 56.04
Daily SMA100 59
Daily SMA200 56.26
Levels
Previous Daily High 55.07
Previous Daily Low 53.48
Previous Weekly High 55.53
Previous Weekly Low 50.51
Previous Monthly High 60.99
Previous Monthly Low 54.87
Daily Fibonacci 38.2% 54.46
Daily Fibonacci 61.8% 54.09
Daily Pivot Point S1 53.76
Daily Pivot Point S2 52.82
Daily Pivot Point S3 52.17
Daily Pivot Point R1 55.35
Daily Pivot Point R2 56
Daily Pivot Point R3 56.94

 

 

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