Free Trial

NYMEX WTI: (G18) Bulls Focused On.........>

OIL TECHS
OIL TECHS: NYMEX WTI: (G18) Bulls Focused On $63.97-65.17 
*RES 4: $65.17 - Low Dec 5 2014 now resistance 
*RES 3: $63.97 - Daily Bull channel top (off Oct low) 
*RES 2: $62.58 - 2015 High May 6 2015 
*RES 1: $62.56 - Hourly resistance Jan 9
*PRICE: $62.16 @ 0320GMT
*SUP 1: $61.97 - Hourly resistance Jan 8 now support 
*SUP 2: $61.34 - Low Jan 8 
*SUP 3: $61.09 - Low Jan 5 
*SUP 4: $60.77 - Hourly support Jan 3a
*COMMENTARY: Bulls take comfort as gains above the 200-WMA $59.95 continue. O/B
studies looking to correct remain the key concern for bulls. In saying that,
bears still need a close below $61.09 to ease bullish pressure and below $59.82
to shift immediate focus back to the bull channel base ($58.73) & 21-DMA
($59.17). Bulls remain focused on the channel top and $63.97-65.17 region while
$61.09 supports.

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.