WTI technical analysis: Bears in control below daily moving averages

Ross J Burland FXStreet

Bears now look to the 52 handle in series of lower lows.
Overnight, WTI took on fresh weekly lows below the prior 56.77.

Oil continues to slide and further away from the 20-day moving average and below the confluence of the 50 and 200 moving averages of the same period down at 57.90. Overnight, WTI took on fresh weekly lows below the prior 56.77 and the series of bearish pin bars shows that there is strong supply on correction attempts. Bears now look to the 52 handle before the 14th Jan 50.41 lows. Further lower, the 26th November lows are located at 49.44 as a target.

WTI

Overview
Today last price	56.64
Today Daily Change	-0.05
Today Daily Change %	-0.09
Today daily open	56.69

Trends
Daily SMA20	58.33
Daily SMA50	57.64
Daily SMA100	59.44
Daily SMA200	57.1

Levels
Previous Daily High	58.49
Previous Daily Low	56.36
Previous Weekly High	60.99
Previous Weekly Low	57.37
Previous Monthly High	59.93
Previous Monthly Low	50.72
Daily Fibonacci 38.2%	57.17
Daily Fibonacci 61.8%	57.68
Daily Pivot Point S1	55.87
Daily Pivot Point S2	55.05
Daily Pivot Point S3	53.74
Daily Pivot Point R1	58
Daily Pivot Point R2	59.31
Daily Pivot Point R3	60.13

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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