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Free Access(F19) New YTD Lows *RES 4: $72.29 -.......>
WTI TECHS: (F19) New YTD Lows
*RES 4: $72.29 - High Oct 17
*RES 3: $70.00 - Resistance area
*RES 2: $64.92 - 200-dma
*RES 1: $60.00 - Down trendline resistance
*PRICE: $54.14 @ 06:24 GMT
*SUP 1: $51.00 - Up trendline support from Jan 2016 lows
*SUP 3: $49.10 - Low Oct 6, 2017 (continuation chart)
*SUP 4: $45.58 - Low Aug 31 (continuation chart)
*SUP 4: $42.05 - June 21 (continuation chart)
WTI futures hit new ytd lows yesterday as the downtrend picks up pace. Up
trendline support from the 2016 lows comes in at $51 marking the next meaningful
level of support, below which the Oct 6 low at $49.10 on the continuation chart
would come into play. Bulls need to reclaim the $60 level marking down trendline
resistance to shift the outlook neutral. Above here would open the 200-dma,
currently at $64.92, above which would return the focus to the upside.
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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.