Oil Technical Analysis: WTI blasting up towards $63.00 a barrel

Oil daily chart

• WTI is trading in a bull trend above its main simple moving averages (SMAs).

Oil 4-hour chart

• Oil is having a strong reversal from $60.00 a barrel as the market is nearing the 200 SMA now at the 62.63 level. 

Oil 30-minute chart

• WTI is pushing beyond 62.50 resistance and the 200 SMA. 
• Bulls can continue the move up towards 63.20 and 64.00 resistances.
• Support is seen at 62.50 and 61.80 level.

Additional key levels