- WTI remains on the front foot to refresh multi-day high.
- Bullish MACD keeps buyers hopeful to cross 2021 peak.
- Overbought RSI conditions test buyers from targeting June 2014 lows.
WTI pierces $84.00 to refresh a three-month high during early Tuesday. In doing so, the black gold rises 0.40% intraday.
Given the firmer MACD signals and sustained trading beyond the key SMAs, WTI crude oil prices seem capable to cross the immediate hurdle, namely the year 2021 top surrounding $85.00.
The following run-up will aim for the $90.00 psychological magnet before hitting the June 2014 trough close to $91.30.
It’s worth observing that the overbought RSI conditions will challenge WTI crude oil buyers beyond $85.00.
Alternatively, pullback moves may initially aim for the 100-DMA level of $75.85 and then to the 50-DMA near $75.10.
Following that, a six-week-old support line of around $72.50 will be crucial for oil sellers to watch.
WTI: Daily chart
Trend: Further upside expected
Additional important levels
|Today last price||84.19|
|Today Daily Change||0.48|
|Today Daily Change %||0.57%|
|Today daily open||83.71|
|Previous Daily High||84.09|
|Previous Daily Low||82.93|
|Previous Weekly High||83.74|
|Previous Weekly Low||77.44|
|Previous Monthly High||77.26|
|Previous Monthly Low||62.34|
|Daily Fibonacci 38.2%||83.65|
|Daily Fibonacci 61.8%||83.38|
|Daily Pivot Point S1||83.07|
|Daily Pivot Point S2||82.42|
|Daily Pivot Point S3||81.91|
|Daily Pivot Point R1||84.22|
|Daily Pivot Point R2||84.74|
|Daily Pivot Point R3||85.38|
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