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- RES 4: $60.00 - Psychological round number
- RES 3: $59.06 - 1.382 proj of Apr - Aug rally from the Nov 2 low
- RES 2: $58.00 - Round number resistance
- RES 1: $57.56 - Intraday high
- PRICE: $57.35 @ 06:55 GMT Feb 8
- SUP 1: $55.30 - Low Feb 4
- SUP 2: $53.94 - High Jan 13 and recent breakout level
- SUP 3: $53.22 - 20-day EMA
- SUP 4: $51.44 - Low Jan 22
WTI futures maintain a bullish tone. Last week, futures traded above former resistance at $53.94, Jan 13 high and a bull trigger. The breach of this level confirmed a resumption of the underlying uptrend and paves the way for strength towards $58.00 and $59.06 next. The latter is a Fibonacci projection. Key trend support remains $51.44, Jan 22 low where a break is required to signal a top.