Free Trial

(K19) 21-DMA Support Back In Focus *RES...>

WTI TECHS
WTI TECHS: (K19) 21-DMA Support Back In Focus
*RES 4: $69.98 - High Oct 22 
*RES 3: $68.17/28 - 76.4% Retracement/High Oct 26 
*RES 2: $66.60 - Low Oct 23 
*RES 1: $64.79 - High Apr 9 
*PRICE: $63.31 @ 05:28 GMT Apr 16 
*SUP 1: $61.67/61.82 - 21-dma/Low Apr 5 
*SUP 2: $60.73 - 200-dma 
*SUP 3: $58.17/59.40 - Low Mar 25/Uptrend support from Feb lows 
*SUP 4: $54.87/55.12 - Low Mar 8/100-dma 
WTI futures look set for some renewed downside after their continued failure to
overcome the $65 level. Bears now look for a break below the 21-dma/April 5 low
at $61.67/$61.82 to capitalise on the weakness and open the 200-dma at $60.73.
To reignite upside momentum bulls look to take out the Aril 9 high at $64.79. A
break above here would open a run at the Oct 23 low at $66.60 ahead of the 76.4%
retracement/Oct 26 high at $68.17/28.

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.