- The WTI fails to maintain the recovery, it remains in the recent range.
- The blockade of the Suez Canal and the risky mood fail to attract oil buyers.
After failing to resist above the $ 60 level, the WTI (NYMEX futures) fell to $ 59.36, before rebounding to $ 50.80. Crude is rising modestly on Friday and remains within the range of the past four days. In weekly terms, is on track to have the third consecutive weekly decline.
The drive to block the Suez Canal it has been limited, but it is still a factor to consider. It is estimated that the situation in Egypt could last for weeks. Another positive factor for crude oil is optimism in the markets, with the strong rebound yesterday in stocks on Wall Street.
On the other hand, the strength of the dollar, in the face of a renewed rise in Treasury bond yields, is a negative factor for crude. In addition, the slow progress of vaccination in Europe It raises concerns about the demand for crude oil and the possible economic impact.
US personal income and spending data will be released on Friday. Later, in the American afternoon, it will be the turn of the platform count data Baker Hughes oil rigs.
Technical levels
WTI
Panorama
Today Last Price59.8
Today’s Daily Change1.45
Today’s Daily Change% 2.49
Today’s Daily Opening58.35
Trends
SMA of 20 Daily62.56
50 Daily SMA58.98
SMA of 100 Daily52.68
SMA of 200 Daily46.57
Levels
Daily Previous High60.86
Daily Previous Low57.45
Weekly Previous Maximum66.43
Weekly Prior Minimum58.33
Previous Monthly High63.72
Monthly Previous Low51.6
Daily Fibonacci 38.2% 58.75
Daily Fibonacci 61.8% 59.56
Daily Pivot Point S156.91
Daily Pivot Point S255.48
Daily Pivot Point S353.5
Daily Pivot Point R160.32
Daily Pivot Point R262.29
Daily Pivot Point R363.73
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