Oil Technical Analysis: WTI breaks to a new 2019 high reaching $56.22 a barrel

Oil Technical Analysis: WTI breaks to a new 2019 high reaching $56.22 a barrel

Oil daily chart

  • Crude oil WTI is trading in a bear trend below its 200-day simple moving average.
  • WTI broke to a new 2019 high this Friday.

Oil 4-hour chart

  • Crude oil is trading between the 100 and 200 SMA suggesting a sideways market in the medium-term. 

Oil 30-minute chart

  • WTI is trading above its main SMAs suggesting bullish momentum in the short-term. 
  • The next resistance to the upside are seen at 57.00 and 57.50 level.
  • Support is seen at 54.60 and 53.60 level.

Additional key levels

WTI

Overview:
    Today Last Price: 56.14
    Today Daily change: 128 ticks
    Today Daily change %: 2.33%
    Today Daily Open: 54.86
Trends:
    Daily SMA20: 53.75
    Daily SMA50: 51.15
    Daily SMA100: 56.06
    Daily SMA200: 62.9
Levels:
    Previous Daily High: 55.08
    Previous Daily Low: 53.53
    Previous Weekly High: 55.93
    Previous Weekly Low: 52.05
    Previous Monthly High: 55.48
    Previous Monthly Low: 44.52
    Daily Fibonacci 38.2%: 54.49
    Daily Fibonacci 61.8%: 54.12
    Daily Pivot Point S1: 53.9
    Daily Pivot Point S2: 52.94
    Daily Pivot Point S3: 52.35
    Daily Pivot Point R1: 55.45
    Daily Pivot Point R2: 56.04
    Daily Pivot Point R3: 57

 

via Forex News
article link : https://www.fxstreet.com/news/oil-technical-analysis-wti-breaks-to-a-new-2019-high-reaching-5622-a-barrel-201902152022

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