MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(N2) Short-Term Trend Needle Points North

WTI TECHS
  • RES 4: $120.00 - Psychological round number
  • RES 3: $116.43 - High Mar 7 and the trend high
  • RES 2: $115.04 - High Mar 8
  • RES 1: $113.20 - High May 17
  • PRICE: $109.16 @ 09:03 BST May 20
  • SUP 1: $103.24 - Low May 19
  • SUP 2: $100.97/96.93 - 50-day EMA / Low May 11 and key S/T level
  • SUP 3: $94.47 - Low Apr 25
  • SUP 4: $92.15 - Low Apr 11 and a key support

WTI futures maintain a bullish theme despite a pullback from this week’s highs. Price has breached resistance at $109.77, May 5 high and this improved the outlook for bulls. Note that $110.07, the Mar 24 high has also been cleared this week. A resumption of gains would open the key resistance and trend high of $116.43 on Mar 7. Key short-term support lies at $96.93, May 11 low.

Energy BulletsCommodities
Energy BulletsCommodities

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.