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(G2) Holds Recent Rally

WTI TECHS
  • RES 4: $78.59 - High Nov 24
  • RES 3: $77.59 - High Nov 26
  • RES 2: $77.44 - 76.4% Fib of the Oct - Dec sell-off / High Dec 30
  • RES 1: $77.08 - High Dec 31
  • PRICE: $76.18 @ 11:28 GMT Dec 31
  • SUP 1: $68.56/66.12 - Low Dec 21 / Low Dec 20
  • SUP 2: $65.45 - Low Dec 3
  • SUP 3: $62.26 - Low Dec 2 and the bear trigger
  • SUP 4: $60.52 - Low Aug 20 and a key support

WTI futures are holding the sizeable Dec27 rally, putting prices at the best level since late November. The rally has so far stalled at the 76.4% retracement of the Oct-Dec downleg at $77.44, which becomes the next key upside level. Clearance here opens Nov26 high at 77.59.

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