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(N1) Bullish Price Sequence Intact

WTI TECHS
  • RES 4: $75.07 - 3.618 proj of Mar 23 - 30 - Apr 5 price swing
  • RES 3: $74.47 - 3.50 proj of Mar 23 - 30 - Apr 5 price swing
  • RES 2: $74.00 - Round number resistance
  • RES 1: $73.96 - High Jun 21
  • PRICE: $73.56 @ 06:40 BST Jun 22
  • SUP 1: $69.77 - Low Jun 17
  • SUP 2: $67.02 - High May 18
  • SUP 3: $66.23 - 50-day EMA
  • SUP 4: $65.25 - Low May 26

WTI crude rallied yesterday and has resumed its uptrend, clearing former resistance at $72.99, Jun 16 high. The break higher maintains a bullish price sequence of higher highs and higher lows and signals scope for further upside with attention on the $74.00 handle and $74.47, a Fibonacci projection. On the downside, key support has been defined at $69.77, Jun 17 low. A break of this level is required to signal a top.

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