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(M1) Extends This Week's Gains

WTI TECHS
  • RES 4: $67.29 - High Mar 8 and the bull trigger
  • RES 3: $66.15 - High Mar 15
  • RES 2: $64.68 - High Mar 18
  • RES 1: $64.53 - High Apr 28
  • PRICE: $64.51 @ 07:00 BST Apr 30
  • SUP 1: $62.20 - 20-day EMA
  • SUP 2: $60.61/58 - Low Apr 22 / 50-day EMA
  • SUP 3: $58.77 - Low Apr 12
  • SUP 4: $57.68 - Low Apr 5

WTI futures continue to push higher and yesterday extended this week's recovery. Price has breached resistance at $64.38, Apr 20 high. The break of this level strengthens a short-term bullish case and negates recent bearish signals. Attention is on $66.15, Mar 15 high ahead of the key hurdle for bulls at $67.29, Mar 8 high. On the downside, key short-term support has been defined at $60.61, Apr 22 low. A break would be bearish.

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