Free Trial
USDCAD TECHS

Impulsive Rally Extends

US TSYS

Late Eurodollar/SOFR/Treasury Option Roundup

EURJPY TECHS

Price Is Below The 50-Day EMA

US

Late Corporate Credit Update

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(M2) Bearish Risk Still Present

WTI TECHS
  • RES 4: $119.95 - High Mar 8
  • RES 3: $118.13 - High Mar 9
  • RES 2: $113.51/113.90 - High Mar 24 / 76.4% of Mar 7 - 15 downleg
  • RES 1: $103.56/111.37 - 20-day EMA / High May 5
  • PRICE: $102.09 @ 07:14 BST May 11
  • SUP 1: $98.20 - Intraday low
  • SUP 2: $95.28 - Low Apr 25 and a key near-term support
  • SUP 3: $92.60 - Low Apr 11 and a key support
  • SUP 4: $90.37 - Low Mar 15 and a bear trigger

WTI futures reversed course Monday. Last week’s break of triangle resistance, drawn from the Mar 15 low, highlighted a bullish development. However the sell-off this week suggests the bullish break was likely a false one. This threatens the recent recovery and instead exposes support at $95.28, Apr 25 low. A break would strengthen a bearish case and confirm a bearish triangle breakout. Key resistance is at $111.37, the May 5 high.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.