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Free Access(J19) Upside Focus Remains *RES 4:........>
WTI TECHS: (J19) Upside Focus Remains
*RES 4: $61.02 - 200-dma
*RES 3: $59.55 - Channel top
*RES 2: $58.70 - High Nov 16
*RES 1: $57.81/88 - High Feb 22/Mar 1
*PRICE: $57.00 @ 05:57 GMT Mar 12
*SUP 1: $56.00 - 21-dma
*SUP 2: $54.52 - Low Mar 8
*SUP 3: $53.73 - 50-dma
*SUP 4: $51.23 - Low Feb 11
WTI futures continue to close above the 21-dma keeping the bullish trend intact
and the focus on the Feb 22 and March 1 highs at $57.81/88. Above here would
open the Nov 16 high ahead of channel top resistance and the 200-dma. On the
downside bears need a close below the 21-dma which would open Friday's low at
$54.52. Below here would suggest a potential downside reversal to the 50-dma.
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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.