Oil Technical Analysis: WTI at weekly highs approaching $63.00 a barrel

Oil daily chart

• WTI is trading above its main simple moving averages (SMA) suggesting a bullish bias.

Oil 4-hour chart

• Crude oil WTI is trading above its main SMAs suggesting a bullish bias in the medium-term.

Oil 30-minute chart

• WTI is trading above its main SMAs suggesting bullish momentum in the near-term.
• Bulls will try to beak the resistance at 63.00 followed by 63.50 and 64.00.
• To the downside, support is at 62.50, 62.00 and 61.75 level.

Additional key levels