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(M1) Watching Support

WTI TECHS
  • RES 4: $70.00 - Psychological round number
  • RES 3: $67.95 - High Oct 29, 2018
  • RES 2: $67.29 - High Mar 8 and the bull trigger
  • RES 1: $67.01 - High May 18
  • PRICE: $64.64 @ 06:46 BST May 19
  • SUP 1: $64.11 - 20-day EMA
  • SUP 2: $63.09 - Low May 13 and key near-term support
  • SUP 3: $62.43 - 50-day EMA
  • SUP 4: $60.61 - Low Apr 22 and key short-term support

WTI maintains a bullish tone dispute pulling back from yesterday's high. Price action has probed resistance at $66.76, May 5 high. A clear break would pave the way for a test of the key hurdle for bulls at $67.29, Mar 8 high. Clearance of this latter resistance would confirm a resumption of the broader uptrend. On the downside, firm near-term support has been defined at $63.09, May 13 low. A break would be bearish.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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