Oil Technical Analysis: Black Gold bulls are challenging $48.00 a barrel
Oil daily chart
- Crude oil WTI is trading in a bear trend below the 200-period simple moving average (SMA).
Oil 4-hour chart
- Bulls are breaking above the 48.00 figure and the 100 SMA.
Oil 30-minute chart
- If bulls can keep the momentum above 48.00 then 49.00 and 49.85 can be next.
- However, a pullback down towards 47.00 can be more likely at this stage.
Additional key levels
Today Last Price: 48.1
Today Daily change: 1.1e+2 pips
Today Daily change %: 2.34%
Today Daily Open: 47
Previous Daily SMA20: 48.47
Previous Daily SMA50: 53.1
Previous Daily SMA100: 61.77
Previous Daily SMA200: 65.3
Previous Daily High: 47.67
Previous Daily Low: 45.56
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%: 46.86
Previous Daily Fibonacci 61.8%: 46.37
Previous Daily Pivot Point S1: 45.82
Previous Daily Pivot Point S2: 44.63
Previous Daily Pivot Point S3: 43.71
Previous Daily Pivot Point R1: 47.93
Previous Daily Pivot Point R2: 48.85
Previous Daily Pivot Point R3: 50.04