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(J2) Uptrend Accelerates

WTI TECHS
  • RES 4: $113.15 - 2.618 proj of the Aug - Oct - Dec ‘21 price swing
  • RES 3: $110.84 - 2.50 proj of the Aug - Oct - Dec ‘21 price swing
  • RES 2: $110.00 - Round number resistance
  • RES 1: $109.30 - Intraday high
  • PRICE: $108.12 @ 06:03 GMT Mar 2
  • SUP 1: $95.32 - LowMar 1
  • SUP 2: $90.06 - Low Feb 23 and a key support
  • SUP 3: $87.46 - Low Feb 18
  • SUP 4: $84.92 - Low Feb 1

WTI futures remain in an uptrend and this week’s gains mark a significant acceleration of the uptrend. This has again confirmed a resumption of the uptrend and 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 $110.00 handle next. On the downside, initial support is seen at yesterday’s low of $95.32.

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