WTI technical analysis: Bulls in control with a test of the 50-DMA

Ross J Burland FXStreet

The price of oil is resting up in the high end of the 55 handle in WTI while the price finally got above the 20 daily moving average and then pierced the 50-DMA into the 56 handle overnight. Bulls are back in control and there is room for an advance to the 58 handle to meet trend line resistance from here while on the downside, bears can target a drop to the 52 handle and the 61.8% Fibo at 51.70 on the wide.

WTI

Overview
Today last price	55.89
Today Daily Change	-0.18
Today Daily Change %	-0.32
Today daily open	56.07

Trends
Daily SMA20	55.4
Daily SMA50	56.27
Daily SMA100	58.76
Daily SMA200	56.2

Levels
Previous Daily High	56.27
Previous Daily Low	54.77
Previous Weekly High	57.4
Previous Weekly Low	53.48
Previous Monthly High	60.99
Previous Monthly Low	54.87
Daily Fibonacci 38.2%	55.7
Daily Fibonacci 61.8%	55.34
Daily Pivot Point S1	55.14
Daily Pivot Point S2	54.2
Daily Pivot Point S3	53.64
Daily Pivot Point R1	56.64
Daily Pivot Point R2	57.2
Daily Pivot Point R3	58.14

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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