Back
1 Jun 2020
Oil Price Analysis: WTI trading near session’s lows around $34.80 a barrel
- WTI is trading off the June s’ highs near $34.80 per barrel.
- Strong resistance is limiting WTI advances near the 36.00 level.
WTI four-hour chart
Crude oil is trading near session’s lows as WTI is trading above the main SMAs on the four-hour chart. However, as the black gold remains fragile in a dominant downtrend, it remains to be seen if WTI can regain the 36.00 resistance. More likely, sellers will be looking for a break below the 34.25 support level with the potential for a drop towards the 32.00 figure.
Resistance: 36.00, 37.11
Support: 34.25, 32.00
Additional key levels