Free Trial

NYMEX WTI: (J18) Immediate Focus On.......>

OIL TECHS
OIL TECHS: NYMEX WTI: (J18) Immediate Focus On $60.57 
*RES 4: $64.24 - High Feb 26 
*RES 3: $63.58 - Hourly resistance Feb 27 
*RES 2: $61.95 - Hourly resistance Feb 28 
*RES 1: $61.75 - Hourly support Feb 28 now resistance
*PRICE: $61.64 @ 2030GMT
*SUP 1: $60.76 - Low Feb 22 
*SUP 2: $60.57 - Hourly resistance Feb 15 now support 
*SUP 3: $59.60 - Low Feb 15 
*SUP 4: $58.93 - Daily Bull channel base
*COMMENTARY: Failure to better Monday's high and the hesitation ahead of $64.96
combined with O/B studies continues to weigh with bearish focus currently on the
close below $60.57 needed to shift focus back to $57.90-58.95 where the 100-DMA
and bull channel base are noted. Bulls now need a close above $63.58 to gain
breathing room and above $64.96 to target $66.39-65 where 2018 highs are noted.

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.