OctaFX | OctaFX Forex Broker
Open trading account

Oil Technical Analysis: WTI bears challenging the daily low near $51.50 a barrel

Oil daily chart

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

Oil 4-hour chart

  • WTI is testing the 50 SMA as bears are driving the price below $52.00 a barrel.

Oil 30-minute chart

  • Bears are breaking below 51.55 support as the market is trading below its mains SMAs.
  • A sustained move beyond that level would open the doors to 50.60 level and 50.00 the figure.

Additional key levels


    Today Last Price: 1.1399
    Today Daily change: 5 pips
    Today Daily change %: 0.0527%
    Today Daily Open: 1.1393
    Daily SMA20: 1.1433
    Daily SMA50: 1.1384
    Daily SMA100: 1.1468
    Daily SMA200: 1.1614
    Previous Daily High: 1.1425
    Previous Daily Low: 1.1378
    Previous Weekly High: 1.1571
    Previous Weekly Low: 1.1396
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Daily Fibonacci 38.2%: 1.1396
    Daily Fibonacci 61.8%: 1.1407
    Daily Pivot Point S1: 1.1372
    Daily Pivot Point S2: 1.1351
    Daily Pivot Point S3: 1.1324
    Daily Pivot Point R1: 1.1419
    Daily Pivot Point R2: 1.1446
    Daily Pivot Point R3: 1.1467


US: Philly Fed Manufacturing Index improves to 17 in Jan vs 10 expected

"The index for current manufacturing activity in the region increased from a revised reading of 9.1 in December to 17.0 this month," the Federal Reser
Read more Previous

Canada: CPI to stabilize at 1.7% y/y - TDS

Analysts at TD Securities are expecting Canadian CPI to stabilize at 1.7% y/y helped by base effects and higher core inflation. Key Quotes “We expec
Read more Next
Start livechat