(K4) Impulsive Bull Cycle

• RES 4: $90.00 - Psychological round number
• RES 3: $89.08 - 2.00 proj of the Jan 3 - 29 - Feb 5 price swing
• RES 2: $87.01 - 1.764 proj of the Jan 3 - 29 - Feb 5 price swing
• RES 1: $85.73 - 1.618 proj of the Jan 3 - 29 - Feb 5 price swing
• PRICE: $85.13 @ 07:14 GMT Apr 3
• SUP 1: $81.04 - 20-day EMA
• SUP 2: $78.72/75.50 - 50-day EMA / Low Feb 26
• SUP 3: $71.52 Low Feb 5
• SUP 4: $70.02 - Low Jan 3

A bull theme in WTI futures remains intact and this week’s move higher reinforces current conditions and confirms a resumption of the uptrend. The contract has traded through $84.87, the Sep 15 ‘23 high, paving the way for a climb towards the $90.00 handle further out. The next objective is $85.73, a Fibonacci projection. On the downside, initial firm support to watch lies at $81.04, the 20-day EMA.