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BLOCK, Jun'23 SOFR/Eurodlr Call Spd


Bullish Outlook


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(G20) Correcting *RES 4: $62.71 - 2.00....>

WTI TECHS: (G20) Correcting
*RES 4: $62.71 - 2.00 projection of Nov 20 - Nov 27 rally from Nov 29 low
*RES 3: $62.66 - High May 16
*RES 2: $61.58 - High May 22
*RES 1: $61.40 - High Dec 19
*PRICE: $60.22 @ 07:55 GMT Dec 23
*SUP 1: $59.97 - Low Dec 17
*SUP 2: $59.19 - Low Dec 13
*SUP 3: $58.02 - Low Dec 11 and initial key support
*SUP 4: $57.62 - Low Dec 6
Despite the pullback Friday, WTI remains bullish for now. Last week saw futures
extend the rally confirming a resumption of the underlying uptrend. Importantly,
futures also traded above $60.37, Sep 16 high marking a break of a significant
resistance and further reinforcing the bullish theme. Attention turns to $62.66,
May 16 high. Note, the $61.17 objective, a Fibonacci projection was achieved
Thursday. On the downside, initial support lies at $59.97, Dec 17 low.

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