Oil Technical Analysis: WTI soars to $60.21 a barrel

Oil daily chart

• Oil is trading above the 50 and 100-day simple moving averages (SMAs) 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

• Oil is trading above its main SMAs suggesting bullish momentum in the near-term.
• The level to beat for bulls is 60.20. The next resistances to the upside are at 60.60 and 61.00 figure.
• To the downside, supports are at 59.30 and 59.00 level.

 Additional key levels