WTI Price Analysis: Oversold RSI can stop bears targeting 61.8% Fibonacci

WTI seesaws near 15-week low flashed the previous day.
Oversold RSI could repeat patterns registered from early-January 2019.
$57.35/25 becomes the key resistance confluence.

Anil Panchal FXStreet

WTI bears catch a breath as the quote flashes $53.00 during the initial trading session on Tuesday. The energy benchmark recently dropped to the lowest since October and is declining towards 61.8% Fibonacci retracement of its upside from December 2018 to April 2019.

Even so, overbought conditions of RSI can help repeat the bounces off $51.60 key Fibonacci level, if not then $50.00 could try disappointing the sellers.

In a case where the black gold continues to linger beneath $50.00, high marked on December 26, 2018, near $47.00 will be in the spotlight.

On the flip side, a 50% Fibonacci retracement level of $54.50 could please the short-term buyers during the pullback.

However, a confluence of 100 and 200-day SMA, as well as 38.2% Fibonacci retracement, will cap the rise around $57.25/35, if not then a fresh run-up towards $60.00 could be expected.

WTI daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	52.88
Today Daily Change	-0.02
Today Daily Change %	-0.04%
Today daily open	52.9

Trends
Daily SMA20	58.95
Daily SMA50	58.88
Daily SMA100	57.32
Daily SMA200	57.49

Levels
Previous Daily High	54.21
Previous Daily Low	52.16
Previous Weekly High	59.65
Previous Weekly Low	53.86
Previous Monthly High	62.38
Previous Monthly Low	55.41
Daily Fibonacci 38.2%	52.94
Daily Fibonacci 61.8%	53.43
Daily Pivot Point S1	51.96
Daily Pivot Point S2	51.03
Daily Pivot Point S3	49.91
Daily Pivot Point R1	54.02
Daily Pivot Point R2	55.15
Daily Pivot Point R3	56.08

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD looks apathetic around 1.1770

EUR/USD comes under renewed pressure on Tuesday, deflating below the 1.1800 support and reversing two consecutive days of gains. The pair’s decline follows the persistent move higher in the US Dollar, as trade uncertainty dominates the sentiment ahead of President Trump’s SOTU speech.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold appears offered around $5,150

Gold is giving back a good portion of the recent multi-day rally, receding to the $5,150 zone per troy ounce amid the decent bounce in the US Dollar and mixed US Treasuty yields. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.

Ripple’s DeFi shift in focus: Navigating XRPL EVM sidechain growth, XRPFi migration and liquidity

Ripple (XRP) has continued to trade under pressure, extending its decline by approximately 63% from the record high of $3.66 in July. The remittance token is trading above support at $1.35, while its upside appears limited by key supply zones, starting with $1.40, at the time of writing on Tuesday.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.