Oil Technical Analysis: Black Gold bears are back for a drop to $50.00 a barrel

News

Oil daily chart

  • Crude oil WTI is trading in a bear trend below the 200-period simple moving average (SMA). 
  • Bulls are testing the 50 SMA. 

Oil 4-hour chart

  • Bulls have regained the main SMAs suggesting bullish momentum in the medium-term.

Gold 30-minute chart

Additional key levels

WTI

Overview:
    Today Last Price: 52.02
    Today Daily change: -54 pips
    Today Daily change %: -1.03%
    Today Daily Open: 52.56
Trends:
    Previous Daily SMA20: 48.14
    Previous Daily SMA50: 51.86
    Previous Daily SMA100: 60.88
    Previous Daily SMA200: 64.79
Levels:
    Previous Daily High: 53.03
    Previous Daily Low: 51.66
    Previous Weekly High: 49.41
    Previous Weekly Low: 44.52
    Previous Monthly High: 54.68
    Previous Monthly Low: 42.45
    Previous Daily Fibonacci 38.2%: 52.51
    Previous Daily Fibonacci 61.8%: 52.18
    Previous Daily Pivot Point S1: 51.8
    Previous Daily Pivot Point S2: 51.05
    Previous Daily Pivot Point S3: 50.43
    Previous Daily Pivot Point R1: 53.17
    Previous Daily Pivot Point R2: 53.79
    Previous Daily Pivot Point R3: 54.54

Products You May Like

Articles You May Like

One options trader made a million-dollar bet that GE’s darkest days are over
Forex Trading: 4 Things I Wish I Knew When I Started Trading
USD/CNY: The tide has turned for the Chinese currency – Danske Bank
Your Money: How Dry January is changing finances
Wife says ex-Nissan boss Ghosn suffers ‘harsh’ treatment in jail

Leave a Reply

Your email address will not be published. Required fields are marked *