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(J2) Fresh Cycle High

WTI TECHS
  • RES 4: $100.00 - Psychological barrier
  • RES 3: $97.91 - 3.00 proj of the Dec 2 - 9 - 20 price swing
  • RES 2: $95.38 - 2.764 proj of the Dec 2 - 9 - 20 price swing
  • RES 1: $94.95 - High Feb 22
  • PRICE: $91.73 @ 07:59 GMT Feb 22
  • SUP 1: $87.46 - Low Feb 18
  • SUP 2: $84.92 - Low Feb 1
  • SUP 3: $83.39 - 50-day EMA
  • SUP 4: $81.06 - Low Jan 24

WTI futures traded higher Tuesday, clearing resistance at $93.83, the Feb 14 high. This confirms a resumption of the underlying uptrend and extends the bullish price sequence of higher highs and higher lows. Attention is on $95.38 next, a Fibonacci projection. On the downside, key short-term support has been defined at $87.46, the Feb 18 low where a break is required to signal a potential top.

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