WTI Price Analysis: Seesaws around $34.00, near to break immediate triangle

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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

https://editorial.fxstreet.com/miscelaneous/WTI_27052020-637261418107004516.png

Trend: Bullish

Additional important levels

Overview
Today last price34.11
Today Daily Change-0.17
Today Daily Change %-0.50%
Today daily open34.28

 

Trends
Daily SMA2027.59
Daily SMA5025.38
Daily SMA10038.21
Daily SMA20047.53

 

Levels
Previous Daily High34.91
Previous Daily Low33.51
Previous Weekly High34.74
Previous Weekly Low29.62
Previous Monthly High32.21
Previous Monthly Low8.46
Daily Fibonacci 38.2%34.37
Daily Fibonacci 61.8%34.04
Daily Pivot Point S133.56
Daily Pivot Point S232.83
Daily Pivot Point S332.16
Daily Pivot Point R134.96
Daily Pivot Point R235.63
Daily Pivot Point R336.35