WTI technical levels: Bulls testing bear's commitments at trend-line resistance

• Bulls hold in bullish territory ahead of trendline resistance.
• The upside move has left the 61.8% Fibo at 51.70 in the distance.

The price of a barrel of oil has been on the bid but was unable to hold in the 57 handle. The technical outlook for WTI is choppy with a lack of direction and price remains in familiar ranges. 

However, the recent upside move has brought the 60 handle back into the picture with the price holding above the 200-daily moving average, by the skin of its teeth, and bulls are testing the bear's commitments at trendline resistance while above the 50% retracement of the July swing lows and highs. The move has left the 61.8% Fibo at 51.70 back in the rearview mirror.

WTI daily chart