Free Trial

(G20) Bull Trend Intact *RES 4: $62.66....>

WTI TECHS
WTI TECHS: (G20) Bull Trend Intact
*RES 4: $62.66 - High May 16
*RES 3: $61.58 - High May 22
*RES 2: $61.24 - 1.618 projection of Nov 20 - Nov 27 rally from Nov 29 low
*RES 1: $61.11 - High Dec 18
*PRICE: $60.88 @ 06:45 GMT Dec 19
*SUP 1: $59.19 - Low Dec 13
*SUP 2: $58.02 - Low Dec 11 and initial key support
*SUP 3: $57.62 - Low Dec 6
*SUP 4: $56.21 - Low Dec 4
WTI extended its rally marginally once again yesterday confirming a resumption
of the underlying uptrend. Importantly, futures have this week traded above
$60.37, Sep 16 high marking the break of a significant resistance and further
reinforcing the bullish theme. Attention turns to $62.66, May 16 high. The
initial objective is $61.17, a Fibonacci projection. On the downside, support
lies at $59.19, Dec 13 low ahead of the key $58.02 support, low Dec 11.

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.