WTI Price Analysis: Seesaws around $34.00, near to break immediate triangle
by Anil Panchal- WTI extends latest pullback from $33.90 to stay near 11-week top flashed the previous day.
- Buyers await a clear upside break of the triangle to challenge March top.
- 200-bar SMA adds to the support below $34.00.
While flashing yet another move inside a short-term symmetrical triangle, WTI drops to $34.07, down 0.60% on a day, during Wednesday’s Asian session.
However, the black gold nears the breakout of the immediate triangle formation, which in turn highlights $34.30 resistance and $34.00 support as the key.
Considering the normal RSI conditions, the oil benchmark is mostly expected to provide an upside break of $34.30 that can challenge Tuesday’s top of $34.91.
Though, buyers will wait for a sustained move beyond $35.00 round-figure before aiming for March month top around $36.65.
On the downside, a 200-bar SMA level of $33.65 can question bears prior to offering $33.00 to them.
WTI 30-minutes chart
Trend: Bullish
Additional important levels
Overview | |
---|---|
Today last price | 34.11 |
Today Daily Change | -0.17 |
Today Daily Change % | -0.50% |
Today daily open | 34.28 |
Trends | |
---|---|
Daily SMA20 | 27.59 |
Daily SMA50 | 25.38 |
Daily SMA100 | 38.21 |
Daily SMA200 | 47.53 |
Levels | |
---|---|
Previous Daily High | 34.91 |
Previous Daily Low | 33.51 |
Previous Weekly High | 34.74 |
Previous Weekly Low | 29.62 |
Previous Monthly High | 32.21 |
Previous Monthly Low | 8.46 |
Daily Fibonacci 38.2% | 34.37 |
Daily Fibonacci 61.8% | 34.04 |
Daily Pivot Point S1 | 33.56 |
Daily Pivot Point S2 | 32.83 |
Daily Pivot Point S3 | 32.16 |
Daily Pivot Point R1 | 34.96 |
Daily Pivot Point R2 | 35.63 |
Daily Pivot Point R3 | 36.35 |