Free Trial

(F1) Clears Resistance

WTI TECHS
  • RES 4: $45.39 - 0.618 proj of Apr - Aug rally from the Nov 2 low
  • RES 3: $44.59 - High Aug 26 and a key bull trigger
  • RES 2: $44.47 - High Aug 31
  • RES 1: $44.15 - High Sep 2
  • PRICE: $43.59 @ 07:00 GMT Nov 24
  • SUP 1: $42.09 Low Nov 23
  • SUP 2: $40.93 20-day EMA
  • SUP 3: $40.33 - Low Nov 13 and key near-term support
  • SUP 4: $39.72 - Low Nov 10

WTI futures continue to strengthen and have today cleared former resistance at $43.33, Nov 11 high. The break higher confirms a resumption of the recovery that started Nov 2 and paves the way for gains towards key resistance at $44.59, Aug 26 high. Moving average studies have shifted to a bull mode reinforcing current trending conditions. On the downside, initial support is seen at $42.29, yesterday's low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.