Oil technical analysis: WTI trading at weekly lows, challenging $56.00 a barrel

Crude ends the week keeping the consolidation theme unchanged.
The level to beat for sellers is the 56.00 figure.

Flavio Tosti Independent Analyst

Crude oil daily chart

The crude oil West Texas Intermediate (WTI) is challenging $56.00 a barrel and the 100-day simple moving average (DMA). The market has been consolidating for the most of the week.

Crude oil four-hour chart

The market is ranging above its main SMAs, keeping a somewhat bullish bias above the 56.00 support level. Bulls would need a daily close above 57.50 to resume the bull move.

Crude oil 30-minute chart

WTI is trading below its main SMA, suggesting bearish momentum in the near term. However, sellers need to overcome the 56.00 handle. A break below the level can lead to 55.40 support and the 55.00 figure.

Additional key levels

WTI

Overview
Today last price	56.16
Today Daily Change	-0.99
Today Daily Change %	-1.73
Today daily open	57.15

Trends
Daily SMA20	55.18
Daily SMA50	55.55
Daily SMA100	56.06
Daily SMA200	57.45

Levels
Previous Daily High	57.93
Previous Daily Low	56.35
Previous Weekly High	56.97
Previous Weekly Low	53.77
Previous Monthly High	56.97
Previous Monthly Low	51.19
Daily Fibonacci 38.2%	57.33
Daily Fibonacci 61.8%	56.95
Daily Pivot Point S1	56.36
Daily Pivot Point S2	55.56
Daily Pivot Point S3	54.78
Daily Pivot Point R1	57.94
Daily Pivot Point R2	58.72
Daily Pivot Point R3	59.52

Author

Flavio Tosti

Independent Analyst

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.