Oil Technical Analysis: Black Gold must break 52.00 resistance to travel to the $53.00 a barrel

Oil weekly chart

  • Oil WTI is trading in a bear trend as it reversed the yearly gains sharply. 

Oil 4-hour chart

  • Oil tested the November lows. 
  • Oil is trading below its main SMAs. 

Oil 30-minute chart

  • 52.00 is the level to beat for bulls. 
  • 53.00 is the bull target. 

Additional key levels

WTI

Overview:
    Today Last Price: 51.67
    Today Daily change: -99 pips
    Today Daily change %: -1.88%
    Today Daily Open: 52.66
Trends:
    Previous Daily SMA20: 53.48
    Previous Daily SMA50: 61.42
    Previous Daily SMA100: 65.63
    Previous Daily SMA200: 67.31
Levels:
    Previous Daily High: 53.19
    Previous Daily Low: 52.58
    Previous Weekly High: 52.13
    Previous Weekly Low: 49.64
    Previous Monthly High: 63.92
    Previous Monthly Low: 49.64
    Previous Daily Fibonacci 38.2%: 52.81
    Previous Daily Fibonacci 61.8%: 52.96
    Previous Daily Pivot Point S1: 52.43
    Previous Daily Pivot Point S2: 52.2
    Previous Daily Pivot Point S3: 51.82
    Previous Daily Pivot Point R1: 53.04
    Previous Daily Pivot Point R2: 53.42
    Previous Daily Pivot Point R3: 53.65