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(J2) Impulsive Rally Extends

WTI TECHS
  • RES 4: $125.27 - 3.236 proj of the Aug - Oct - Dec ‘21 price swing
  • RES 3: $120.64 - 3.00 proj of the Aug - Oct - Dec ‘21 price swing
  • RES 2: $120.00 - Psychological round number
  • RES 1: $116.01 - 2.764 proj of the Aug - Oct - Dec ‘21 price swing
  • PRICE: $114.57 @ 07:10 GMT Mar 3
  • SUP 1: $105.18 - Low Mar 2
  • SUP 2: $95.32 - Low Mar 1
  • SUP 3: $90.06 - Low Feb 23 and a key support
  • SUP 4: $87.46 - Low Feb 18

WTI futures remain in an uptrend and this week’s gains continue to highlight a significant acceleration of the uptrend. This has again confirmed an extension of the bullish price sequence of higher highs and higher lows. The $100.00 level has been cleared and strengthens current trend conditions. The focus is on the $116.01 next, a Fibonacci projection On the downside, initial support is seen at yesterday’s low of $105.18.

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