Free Trial

(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.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.