© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
PIPELINE

UAE 2Pt Size Set: $1.75B

STIR

Huge SOFR Conversion Spd

GLOBAL POLITICAL RISK

Xi Treads Line Between Russia And West AT BRICS Summit

US TSY OPTIONS

BLOCK, Recent 5Y Bear Play

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
Trending Top 5
Topics

(M2) Bullish Theme Intact

WTI TECHS
markets-real-timeCommoditiesEnergy BulletsBulletEnergy Technical Analysis
  • RES 4: $121.17 High Mar 7 and the trend high
  • RES 3: $120.00 Psychological round number
  • RES 2: $118.13 - High Mar 9
  • RES 1: $114.98 - Intraday high
  • PRICE: $113.74 @ 07:04 BST May 18
  • SUP 1: $106.17 20-day EMA
  • SUP 2: $102.00/98.20 - 50-day EMA / Low May 11
  • SUP 3: $95.28 - Low Apr 25 and a key near-term support
  • SUP 4: $92.60 - Low Apr 11 and a key support

WTI futures started the week on a firmer note and the contract is holding on to its recent gains. Price has breached resistance at $111.37. May 5 high and this has improved the outlook for bulls. Note that $113.51, the Mar 24 high has also been cleared. A continuation higher would open $120.00 and the key resistance and trend high of $121.17 on Mar 7. On the downside, key short-term support lies at $98.20, May 11 low.

145 words

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.
  • RES 4: $121.17 High Mar 7 and the trend high
  • RES 3: $120.00 Psychological round number
  • RES 2: $118.13 - High Mar 9
  • RES 1: $114.98 - Intraday high
  • PRICE: $113.74 @ 07:04 BST May 18
  • SUP 1: $106.17 20-day EMA
  • SUP 2: $102.00/98.20 - 50-day EMA / Low May 11
  • SUP 3: $95.28 - Low Apr 25 and a key near-term support
  • SUP 4: $92.60 - Low Apr 11 and a key support

WTI futures started the week on a firmer note and the contract is holding on to its recent gains. Price has breached resistance at $111.37. May 5 high and this has improved the outlook for bulls. Note that $113.51, the Mar 24 high has also been cleared. A continuation higher would open $120.00 and the key resistance and trend high of $121.17 on Mar 7. On the downside, key short-term support lies at $98.20, May 11 low.