Crude Oil WTI Technical Analysis: Black Gold en route to yearly lows below $60.00 a barrel
- Crude oil is trading in a strong bear trend below the 50, 100 and 200-period simple moving average on the 4-hour chart.
- Crude oil bear trend remains intact as WTI remains pressured below $60.00 a barrel. Technical indicators stay in negative territories.
- Targets to the downside can be seen near 59.00, 58.07 (February 9 low) and 57.00 figure.
Crude oil WTI 4-hour chart
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Main Trend: Bearish
Resistance 1: 61.00 figure
Resistance 2: 61.81 April 6 low
Resistance 3: 63.00 figure
Resistance 4: 63.59 June 18 low
Resistance 5: 64.00 figure
Support 1: 59.00 figure
Support 2: 58.07 February 9 low
Support 3: 57.00 figure
Support 4: 55.82 December 7, 2017
Additional key levels at a glance:
WTI
Overview:
Last Price: 59.66
Daily change: -1.1e+2 pips
Daily change: -1.78%
Daily Open: 60.74
Trends:
Daily SMA20: 64.9
Daily SMA50: 69.22
Daily SMA100: 68.72
Daily SMA200: 68.48
Levels:
Daily High: 60.93
Daily Low: 60.53
Weekly High: 63.05
Weekly Low: 59.24
Monthly High: 76.25
Monthly Low: 64.86
Daily Fibonacci 38.2%: 60.78
Daily Fibonacci 61.8%: 60.68
Daily Pivot Point S1: 60.54
Daily Pivot Point S2: 60.33
Daily Pivot Point S3: 60.14
Daily Pivot Point R1: 60.94
Daily Pivot Point R2: 61.13
Daily Pivot Point R3: 61.34