WTI Price Analysis: All eyes on 200-day SMA, 61.8% Fibonacci retracement beyond $42

WTI refrains from entertaining pullback from a five-month high.
Sustained trading beyond 50-day SMA, MACD/RSI conditions signal further room to the north.
June month’s top offers immediate support, February’s low can please buyers.

WTI picks up bids near $42.50 during the early Thursday morning in Asia. The energy benchmark surged to the highest since early March the previous day but failed to cross 200-day SMA and 61.8% Fibonacci retracement level of January-April downside.

Even so, oil buyers are cheering the successful trading beyond 50-day SMA while MACD is flirting with the bulls and RSI is yet to visit the overbought region. All these catalysts favor the black gold’s further upside. Though, a clear break above $43.75, comprising the aforementioned Fibonacci retracement becomes the key.

It should be noted that $43.00 and $43.27 comprising 200-day SMA can offer immediate resistance to the quote.

In a case where the energy benchmark manages to conquer $43.75, February month’s low near $44.00 holds the key to the further upside towards March 03 top near $48.75.

Alternatively, June month’s top of $41.64 can entertain sellers during the pullback ahead of $40.00 and 50-day SMA level near $39.70. If at all the bears dominate past-$39.70, 50% Fibonacci retracement level of $37.10 will be in focus.

WTI daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	42.52
Today Daily Change	0.88
Today Daily Change %	2.11%
Today daily open	41.64

Trends
Daily SMA20	40.97
Daily SMA50	39.32
Daily SMA100	32.35
Daily SMA200	43.51

Levels
Previous Daily High	42.19
Previous Daily Low	40.31
Previous Weekly High	41.99
Previous Weekly Low	39.1
Previous Monthly High	42.52
Previous Monthly Low	38.73
Daily Fibonacci 38.2%	41.48
Daily Fibonacci 61.8%	41.03
Daily Pivot Point S1	40.57
Daily Pivot Point S2	39.5
Daily Pivot Point S3	38.69
Daily Pivot Point R1	42.45
Daily Pivot Point R2	43.26
Daily Pivot Point R3	44.33

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