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2 Jun 2020
Oil Price Analysis: WTI trades in session’s highs near $36.50 a barrel
- WTI is trading in fresh weekly highs near $36.5 a barrel.
- Support can be seen near the 36.00 level.
WTI four-hour chart
Crude oil is trading near session’s highs as WTI is trading above the main SMAs on the four-hour chart. The bulls remain in charge as the market broke above the 36.00 resistance. A potential continuation of the move up can lead towards the 38.40 and 40.20 levels in the medium-term. On the other hand, A break below the 36.00 level now turned support can lead to a deeper pullback down towards the 34.20 level initially.
Additional key levels