(M1) Needle Still Points North

• RES 4: $67.95 - Hugh Oct 29, 2018
• RES 3: $67.29 - High Mar 8 and the bull trigger
• RES 2: $66.15 - High Mar 15
• RES 1: $65.47 - High Apr 29
• PRICE: $63.20 @ 06:53 BST May 3
• SUP 1: $62.33 - 20-day EMA
• SUP 2: $60.61 - Low Apr 22 and key short-term support
• SUP 3: $58.77 - Low Apr 12
• SUP 4: $57.68 - Low Apr 5

WTI futures maintain a bullish tone despite the pullback from last week's high of $65.47 on Apr 29. Price last week breached resistance at $64.38, Apr 20 high. The break 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.