Free Trial

(N20) Bull Trend Intact *RES 4: $37.64....>

WTI TECHS
WTI TECHS: (N20) Bull Trend Intact
*RES 4: $37.64 - High Mar 9 and gap low
*RES 3: $37.33 - High Mar 11
*RES 2: $35.18 - High Apr 9 and key resistance
*RES 1: $34.66 - High May 21
*PRICE: $34.34 @ 06:35 BST May 26
*SUP 1: $30.72/37 - Low May 22 / Trendline support drawn off the Apr 29 low
*SUP 2: $27.98 - High May 6 and former breakout level
*SUP 3: $27.53 - Low May 15
*SUP 4: $25.25 - Low May 13
WTI futures found resistance at last Thursday's $34.66 high and retraced lower
Friday before finding strong support at $30.72. The uptrend remains intact and
attention is on resistance at $34.66, the May 21 high. This level also marks the
bull trigger. A break would open $35.18, Apr 9 high and key resistance. Firm
support lies at $30.72, May 22 low ahead of trendline support at $30.37. The
trendline is drawn off the Apr 29 low.

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.