WTI futures remain bullish but are correcting lower. The contract last week traded above resistance at $46.26, Nov 25 high and the bull trigger. A clear break would confirm a resumption of the underlying uptrend and also maintain the positive price sequence of higher highs and higher lows, with moving average studies in a bull mode condition too. The focus is on $48.07 next, a Fibonacci projection. Firm support is at $43.92.

Fixed Income Technical Analysis Foreign Exchange Technical Analysis Homepage markets-real-time Commodities Bullet Markets Fixed Income News Foreign Exchange News

Taso Anastasiou

Fixed Income Technical Analysis Foreign Exchange Technical Analysis Homepage markets-real-time Commodities Bullet Markets Fixed Income News Foreign Exchange News

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(F1) Bullish Conditions Intact