Oil New York Price Forecast: WTI recovery limited below 34.25 level
by Flavio Tosti- WTI recovery is taking a break below the May’s highs.
- Strong resistance can be awaiting near the 34.25 level.
WTI four-hour chart
The crude oil recovery is taking a break after making fresh May’s highs. WTI is trading above its main SMAs on the four-hour benefiting bullish momentum in the medium-term. However, as crude stays in an overall bearish trend, it remains to be seen if this market can surpass the 34.25 resistance in a sustainable manner. On the other hand, bears would need a daily close below the 32.00 support in order to reclaim the 30.00 level.
Resistance: 34.25, 36.00
Support: 32.00, 30.00
Additional key levels
WTI
| Overview | |
|---|---|
| Today last price | 33.53 |
| Today Daily Change | -0.14 |
| Today Daily Change % | -0.42 |
| Today daily open | 33.67 |
| Trends | |
|---|---|
| Daily SMA20 | 25.67 |
| Daily SMA50 | 25.3 |
| Daily SMA100 | 38.77 |
| Daily SMA200 | 47.74 |
| Levels | |
|---|---|
| Previous Daily High | 34.12 |
| Previous Daily Low | 30.88 |
| Previous Weekly High | 34.74 |
| Previous Weekly Low | 29.62 |
| Previous Monthly High | 32.21 |
| Previous Monthly Low | 8.46 |
| Daily Fibonacci 38.2% | 32.11 |
| Daily Fibonacci 61.8% | 32.88 |
| Daily Pivot Point S1 | 31.66 |
| Daily Pivot Point S2 | 29.64 |
| Daily Pivot Point S3 | 28.41 |
| Daily Pivot Point R1 | 34.9 |
| Daily Pivot Point R2 | 36.13 |
| Daily Pivot Point R3 | 38.15 |