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(M4) Remains Above Pivot Support

WTI TECHS
  • RES 4: $91.24 - 2.382 proj of the Jan 3 - 29 - Feb 5 price swing
  • RES 3: $90.00 - Psychological round number
  • RES 2: $88.07 - 2.00 proj of the Jan 3 - 29 - Feb 5 price swing
  • RES 1: $86.97 - High Apr 12 and the bull trigger
  • PRICE: $83.54 @ 07:13 BST Apr 24
  • SUP 1: $80.85 - 50-day EMA
  • SUP 2: $76.07 - Low Mar 11
  • SUP 3: $71.47 Low Feb 5
  • SUP 4: $70.11 - Low Jan 3

WTI futures have recovered from their recent lows and price remains above key short-term support at $80.85, the 50-day EMA. The recent move lower highlights a corrective phase and a break of the 50-day average would signal a stronger bearish theme and open $76.07, the Mar 11 low. On the upside, key resistance and the bull trigger has been defined at $86.97, the Apr 12 high. A break would resume the uptrend.

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