OctaFX | OctaFX Forex Broker
Open trading account
Back

Oil Technical Analysis: WTI bulls break to fresh session’s highs en route to $47.00 a barrel

Oil daily chart

  • Crude oil WTI is trading in a bear trend below the 50, 100 and 200-day simple moving average.


Oil 4-hour chart

  • The bears need to break below 44.00 a barrel in order to resume the bear trend. 
  • Meanwhile, WTI bulls are breaking above the 50 SMA. 


Oil 30-minute chart

  • Bulls broke to new session’s highs as they are directed towards $47.00 a barrel. 

Additional key levels:

WTI

Overview:
    Today Last Price: 46.25
    Today Daily change: 28 pips
    Today Daily change %: 0.609%
    Today Daily Open: 45.97
Trends:
    Previous Daily SMA20: 49.07
    Previous Daily SMA50: 53.86
    Previous Daily SMA100: 62.24
    Previous Daily SMA200: 65.54
Levels:
    Previous Daily High: 46.65
    Previous Daily Low: 44.87
    Previous Weekly High: 47.09
    Previous Weekly Low: 42.45
    Previous Monthly High: 54.68
    Previous Monthly Low: 42.45
    Previous Daily Fibonacci 38.2%: 45.97
    Previous Daily Fibonacci 61.8%: 45.55
    Previous Daily Pivot Point S1: 45.01
    Previous Daily Pivot Point S2: 44.05
    Previous Daily Pivot Point S3: 43.23
    Previous Daily Pivot Point R1: 46.79
    Previous Daily Pivot Point R2: 47.61
    Previous Daily Pivot Point R3: 48.57

 

WTI on the defensive below $45.00/bbl

Concerns over a lower demand for crude oil in the next month along with the re-emergence of supply glut fears keep weighing on traders’ sentiment and
Read more Previous

NZD/USD pulls away from daily lows, rises to 0.6680 on upbeat GDT auction

The NZD/USD pair slumped to its lowest level since early November at 0.6662 earlier today and has started consolidating its daily losses. Helped by a
Read more Next
Start livechat