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


 

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

 

 

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