Slogging it out near the bottom, bidders seeking $57.00

  • The last twenty-four hours saw US crude dip into the 55.00 critical level before immediately rebounding to familiar resistance levels near 57.00.

WTI Chart, 5-Minute

  • Despite some shocks to the downside, American crude barrels are holding steadily above the near-term bottom at 54.75 as energies traders recover from several months of headline-fueled shock selling.

WTI Chart, 30-Minute

  • WTI’s six-week decline shows just how far critical energy has declined, and even a straight bounce to the 38.2% Fibo retracement level at 63.25 will still see WTI maintain a bearish stance in the medium-term.

WTI Chart, 4-Hour


    Last Price: 56.99
    Daily change: -37 pips
    Daily change: -0.645%
    Daily Open: 57.36
    Daily SMA20: 61.06
    Daily SMA50: 67.43
    Daily SMA100: 67.91
    Daily SMA200: 68.19
    Daily High: 57.42
    Daily Low: 57.3
    Weekly High: 60.93
    Weekly Low: 55.21
    Monthly High: 76.25
    Monthly Low: 64.86
    Daily Fibonacci 38.2%: 57.37
    Daily Fibonacci 61.8%: 57.35
    Daily Pivot Point S1: 57.3
    Daily Pivot Point S2: 57.24
    Daily Pivot Point S3: 57.18
    Daily Pivot Point R1: 57.42
    Daily Pivot Point R2: 57.48
    Daily Pivot Point R3: 57.54


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