(K4) Bull Cycle Extends

• RES 4: $90.00 - Psychological round number
• RES 3: $84.87 - High Sep 15 ‘23 and a key resistance
• RES 2: $83.87 - High Oct 20 ‘23
• RES 1: $83.12 - High Mar 19
• PRICE: $82.39 @ 07:09 GMT Mar 20
• SUP 1: $78.85 - 20-day EMA
• SUP 2: $77.16/71.52 - 50-day EMA / Low Feb 5
• SUP 3: $70.02 - Low Jan 3
• SUP 4: $68.85 - Low Dec 13 and the bear trigger

WTI futures traded higher Tuesday and a bull theme remains intact. Last week’s gains resulted in a break of $79.87, Mar 1 high. The move higher confirms a resumption of the uptrend that has been in place since mid-December last year. Sights are on $83.87 next, the Oct 20 ‘23 high. A break of this level would open $84.87, the Sep 15 ‘23 high and a key resistance On the downside, support to watch is $78.44, the 20-day EMA.