Crude Oil WTI Technical Analysis: Black Gold sinking deeper into the red as WTI hits a 10-week low
- Crude oil is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.
- Crude oil fell to its lowest in 10 weeks as the market broke below the bear flag. Oil is extending the downtrend below the 50, 100 a and 200 SMA. The RSI, MACD and Stochastic indicators are in negative territories suggesting further weakness ahead.
- Targets to the downside might be located near 65.00 figure and 64.40 August low.
Crude oil WTI 4-hour chart
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Main Trend: Bearish
Resistance 1: 66.84 September low
Resistance 2: 67.92 September 14 low
Resistance 3: 69.00 figure
Resistance 4: 70.00 figure
Resistance 5: 70.53 May 24 low
Resistance 6: 71.45 September 26 low
Support 1: 65.69 August 13 low
Support 2: 65.00 figure
Support 3: 64.40 August low
Additional key levels at a glance:
WTI
Overview:
Last Price: 65.69
Daily change: -98 pips
Daily change: -1.47%
Daily Open: 66.67
Trends:
Daily SMA20: 70.12
Daily SMA50: 70.61
Daily SMA100: 69.7
Daily SMA200: 68.46
Levels:
Daily High: 66.7
Daily Low: 66.58
Weekly High: 69.65
Weekly Low: 66.08
Monthly High: 73.7
Monthly Low: 66.84
Daily Fibonacci 38.2%: 66.65
Daily Fibonacci 61.8%: 66.63
Daily Pivot Point S1: 66.6
Daily Pivot Point S2: 66.53
Daily Pivot Point S3: 66.48
Daily Pivot Point R1: 66.72
Daily Pivot Point R2: 66.77
Daily Pivot Point R3: 66.84