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Free AccessNYMEX WTI: (M18) Finding Support On.......>
OIL TECHS: NYMEX WTI: (M18) Finding Support On Dips
*RES 4: $73.25 - Low Nov 11 2014 now resistance
*RES 3: $70.94 - Daily Bull channel top
*RES 2: $69.55 - 2018 High Apr 19
*RES 1: $68.33 - Hourly support Apr 24 now resistance
*PRICE: $68.01 @ 0430GMT
*SUP 1: $67.11 - Low Apr 25
*SUP 2: $66.54 - Low Apr 18
*SUP 3: $65.79 - 21-DMA
*SUP 4: $65.09 - Low Apr 11
*COMMENTARY: The rejection ahead of 2018 highs Tuesday is a concern for bulls
when combined with daily studies correcting from O/B and the proximity of the
Bollinger top ($69.94). Bears now look for a close below $67.11 to gain
breathing room and hint at a correction back to $65.09-81 where the 21-DMA is
found. Bulls need a close above $69.55 to reconfirm focus on $70.94-73.25 where
the MT bull channel top is noted.
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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.