Free Trial

(H1) Clears $60.00

WTI TECHS
  • RES 4: $64.00 - Round number resistance
  • RES 3: $63.17 - 1.618 proj of Apr - Aug rally from the Nov 2 low
  • RES 2: $61.11 - 1.500 proj of Apr - Aug rally from the Nov 2 low
  • RES 1: $60.95 - Intraday high
  • PRICE: $60.23 @ 06:54 GMT Feb 16
  • SUP 1: $57.41 - Low Feb 12
  • SUP 2: $55.34 - 20-day EMA
  • SUP 3: $53.94 - High Jan 13 and recent breakout level
  • SUP 4: $51.69 - 50-day EMA

WTI futures maintain a bullish tone and started the week on a firm note. The contract is trading above $60.00 and further gains are likely near-term. The break higher confirms a resumption of the underlying uptrend and maintains a bullish price sequence of higher highs and higher lows. The focus is on $61.11 next, a Fibonacci projection. On the downside, initial support lies at $57.41, Friday's low.

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.