Free Trial

(N19) Challenging YTD Lows *RES 4:........>

WTI TECHS
WTI TECHS: (N19) Challenging YTD Lows
*RES 4: $59.10 - 100-dma
*RES 3: $58.52 - 50% of Apr-May fall
*RES 2: $57.33 - Low May 23
*RES 1: $54.84 - High Jun 10
*PRICE: $51.70 @ 06:30 GMT Jun 13
*SUP 1: $50.60 - Low June 5
*SUP 2: $49.45 - 76.4% retracement of Dec-Apr rally
*SUP 3: $48.39 - High Dec 26
*SUP 4: $44.49 - L/T Trendline
WTI futures are generating renewed bearish signals, suggesting that a corrective
top has been established at the $54.84 high from June 10. The 200-wma comes in
at $52.61 on the continuation chart and will be key around tomorrow's close.
Downside focus returns to the ytd low at $50.60, below here brings the 76.4%
retracement of the Dec-Apr rally back into view at $49.45.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.