Free Trial

NYMEX WTI: (K18) Bulls Need Close Above...>

OIL TECHS: NYMEX WTI: (K18) Bulls Need Close Above $64.12 
*RES 4: $65.67 - Hourly resistance Mar 27 
*RES 3: $65.42 - High Apr 2 
*RES 2: $64.86 - Hourly support Apr 2 now resistance 
*RES 1: $64.12 - High Apr 4
*PRICE: $63.83 @ 0310GMT
*SUP 1: $63.20 - Hourly support Apr 10 
*SUP 2: $62.43 - Hourly resistance Apr 9 now support 
*SUP 3: $61.81 - Low Apr 6 
*SUP 4: $60.95 - 100-DMA
*COMMENTARY: The bounce to start the new week is less than ideal for bears who
continue to look for a close below the 100-DMA to initially pressure $59.18-91
and then the $57.60 Feb low. The $64.12 resistance remains key this week with
bulls needing a close above to gain breathing room and above $65.42 to target
2018 highs. While $64.12 caps bears retain the upper hand but need a close below
$63.22 to gain breathing room.

To read the full story



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.