Free Trial

(K1) Heading North

WTI TECHS
  • RES 4: $67.79 - High Mar 8 and the bull trigger
  • RES 3: $66.44 - High Mar 15
  • RES 2: $64.88 - High Mar 18
  • RES 1: $64.72 - Former trendline support drawn off Nov 2, 2020 low
  • PRICE: $63.76 @ 07:05 BST Apr 16
  • SUP 1: $60.38 - Low Apr 14
  • SUP 2: $57.63 - Low Apr 5
  • SUP 3: $57.25 - Low Mar 23 and the bear trigger
  • SUP 4: $55.65 - 38.2% retracement of the Nov 2 - Mar 8 rally

WTI futures are trading higher, extending this week's climb following the breach of $62.27, Mar 30 high. With short-term momentum studies pointing north, further gains are likely. The next key resistance is $64.72, a former trendline support drawn off the Nov 2, 2020 low. A break would open $64.88 and $66.44, the Mar 18 and 15 highs respectively. Initial support is at $60.38, Wednesday's low.

To read the full story

Close

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.