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WTI Technical Analysis: New 17-month lows and accelerating bearish lean into $46.00

  • US crude barrels continue to collapse, pinning into a low of 45.83 on Tuesday, and the early overnight session for Wednesday sees oil prices gearing up for another run into intraday lows.

WTI, 5-Minute

  • Energies markets have given up on oil barrels, allowing crude to tumble into alarming lows, and even a recovery of the 61.8% Fibo retracement at the $50 major price level for WTI would still see US crude in bearish territory.

WTI, 30-Minute

  • Tuesday's bottom represents a 17-month low for WTI, and crude's acceleration out of consolidation from 49.50 into the downside sees US barrels set for further declines.

WTI, 4-Hour

WTI

Overview:
    Today Last Price: 46.83
    Today Daily change: 56 pips
    Today Daily change %: 1.21%
    Today Daily Open: 46.27
Trends:
    Previous Daily SMA20: 51.41
    Previous Daily SMA50: 57.35
    Previous Daily SMA100: 64.1
    Previous Daily SMA200: 66.46
Levels:
    Previous Daily High: 49.92
    Previous Daily Low: 46.14
    Previous Weekly High: 53.48
    Previous Weekly Low: 50.57
    Previous Monthly High: 63.92
    Previous Monthly Low: 49.64
    Previous Daily Fibonacci 38.2%: 47.58
    Previous Daily Fibonacci 61.8%: 48.48
    Previous Daily Pivot Point S1: 44.97
    Previous Daily Pivot Point S2: 43.66
    Previous Daily Pivot Point S3: 41.19
    Previous Daily Pivot Point R1: 48.75
    Previous Daily Pivot Point R2: 51.22
    Previous Daily Pivot Point R3: 52.53

 

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