- Oil prices fall on Tuesday, but rebound from daily lows.
- WTI barrel recovers $85.00, loses 0.65%.
- Wall Street futures positive.
Oil prices are falling on Tuesday, despite the rise in equity markets and the weakness of the dollar. In the preview of the opening of Wall Street they cut losses, moving away from the minimum in weeks reached hours ago.
The WTI barrel (trading platforms) fell as low as $84.00, the low since Oct 25, and then bounced higher above $85.00, erasing much of the loss. The economic outlook continues to weigh on expectations for future oil demand. In the US, the October reading of the producer price index will be known in minutes, which could have a broad impact on the markets. In the preview, Wall Street futures rise.
The technical outlook for oil remains negative in the very short term, although a return above $89.00 (trading platforms) would modify this scenario favoring a test of the October and November highs in the area of $93.75. Going the other way, the next strong support can be seen at the October low at $81.00/$20.
technical levels
WTI US OIL
Panorama | |
---|---|
Last Price Today | 84.6 |
Today’s Daily Change | 0.01 |
Today’s Daily Change % | 0.01 |
Today’s Daily Open | 84.59 |
Trends | |
---|---|
20 Daily SMA | 86.77 |
SMA of 50 Daily | 85.46 |
SMA of 100 Daily | 90.09 |
SMA of 200 Daily | 97.41 |
levels | |
---|---|
Previous Daily High | 89.11 |
Minimum Previous Daily | 84.58 |
Previous Weekly High | 92.92 |
Previous Weekly Minimum | 84.06 |
Maximum Prior Monthly | 92.63 |
Minimum Prior Monthly | 79.32 |
Daily Fibonacci 38.2% | 86.31 |
Daily Fibonacci 61.8% | 87.38 |
Daily Pivot Point S1 | 83.07 |
Daily Pivot Point S2 | 81.56 |
Daily Pivot Point S3 | 78.54 |
Daily Pivot Point R1 | 87.61 |
Daily Pivot Point R2 | 90.63 |
Daily Pivot Point R3 | 92.14 |
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.