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WTI TECHS: (G5) Bull Cycle Extends

WTI TECHS
Commodities TechEnergy BulletsBulletEnergy Technical AnalysisCommodities
  • RES 4: $77.90 - High Dec 12 
  • RES 3: $77.41 - High Jul 18
  • RES 2: $76.41 - High Oct 8 and the bull trigger
  • RES 1: $74.39 - Intraday high    
  • PRICE: $73.78 @ 07:20 GMT Jan 6 
  • SUP 1: $71.79 - Low Jan 2     
  • SUP 2: $70.49 - 20-day EMA
  • SUP 3: $68.42 - Low Dec 20 
  • SUP 4: $66.71 - Low Dec 6

WTI futures traded higher last week as the contract extended recent gains. A stronger reversal to the upside has exposed key short-term resistance at $76.41, the Oct 8 high. A firm resistance at $71.97, the Nov 7 high, has been breached, strengthening a bullish theme. On the downside, a reversal lower would expose support at the 20-day EMA, at $70.49. This average is seen as a key short-term support.

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  • RES 4: $77.90 - High Dec 12 
  • RES 3: $77.41 - High Jul 18
  • RES 2: $76.41 - High Oct 8 and the bull trigger
  • RES 1: $74.39 - Intraday high    
  • PRICE: $73.78 @ 07:20 GMT Jan 6 
  • SUP 1: $71.79 - Low Jan 2     
  • SUP 2: $70.49 - 20-day EMA
  • SUP 3: $68.42 - Low Dec 20 
  • SUP 4: $66.71 - Low Dec 6

WTI futures traded higher last week as the contract extended recent gains. A stronger reversal to the upside has exposed key short-term resistance at $76.41, the Oct 8 high. A firm resistance at $71.97, the Nov 7 high, has been breached, strengthening a bullish theme. On the downside, a reversal lower would expose support at the 20-day EMA, at $70.49. This average is seen as a key short-term support.