Home Markets Oil: WTI extends the advance and approaches $90.00

Oil: WTI extends the advance and approaches $90.00

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Oil: WTI extends the advance and approaches .00
  • Oil prices rise despite fall in stock markets and improvement of the dollar.
  • WTI barrel moves away from recent lows.

Oil prices are rising on Thursday, despite lower equity markets and a stronger dollar. US inventory data on Wednesday showed a larger-than-expected drop.

The WTI barrel price (trading platforms) is trading at the $89.50 zone, the highest level in two days. In this way, it extends the rebound from the low in the month that it reached this week near $85.00.

If the increases are extended, the price of WTI will face significant resistance around $90.00, which, if it gives way, could lead to more profits. In the opposite direction, immediate support has moved to $88.30, followed by $87.85.

Technical levels

WTI US OIL

Panorama
Last Price Today 89.25
Today’s Daily Change 2.37
Today’s Daily Change % 2.73
Today’s Daily Opening 86.88
Trends
20 Daily SMA 92.14
50 Daily SMA 100.05
100 Daily SMA 103.2
200 Daily SMA 94.53
levels
Previous Daily High 88.65
Previous Daily Minimum 85.48
Previous Maximum Weekly 94.32
Previous Weekly Minimum 86.64
Monthly Prior Maximum 109.54
Previous Monthly Minimum 88.34
Daily Fibonacci 38.2% 87.44
Daily Fibonacci 61.8% 86.69
Daily Pivot Point S1 85.35
Daily Pivot Point S2 83.83
Daily Pivot Point S3 82.18
Daily Pivot Point R1 88.53
Daily Pivot Point R2 90.17
Daily Pivot Point R3 91.7

Source: Fx Street

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