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8 Mar 2019

Oil Technical Analysis: Black Gold dropping near $55.00 a barrel

Oil daily chart

  • Oil is trading above the 50 and 100-day simple moving averages (SMAs) suggesting a mild bullish bias.

Oil 4-hour chart

  • Crude oil WTI is testing the 200 SMA.

Oil 30-minute chart

  • Oil is trading below its main SMAs suggesting bearish momentum in the near-term.
  • Bears are breaking below 55.20 and the next supports are seen at 54.60 and 53.80 level.
  • To the upside, resistances are at 55.80 and 56.60 level.

Additional key levels

WTI

Overview:
    Today Last Price: 55.08
    Today Daily change: -156 ticks
    Today Daily change %: -2.75%
    Today Daily Open: 56.64
Trends:
    Daily SMA20: 55.88
    Daily SMA50: 53.47
    Daily SMA100: 54.09
    Daily SMA200: 61.97
Levels:
    Previous Daily High: 57.25
    Previous Daily Low: 56.36
    Previous Weekly High: 58.06
    Previous Weekly Low: 55.19
    Previous Monthly High: 57.92
    Previous Monthly Low: 51.56
    Daily Fibonacci 38.2%: 56.91
    Daily Fibonacci 61.8%: 56.7
    Daily Pivot Point S1: 56.25
    Daily Pivot Point S2: 55.86
    Daily Pivot Point S3: 55.36
    Daily Pivot Point R1: 57.14
    Daily Pivot Point R2: 57.64
    Daily Pivot Point R3: 58.03

 

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