Free Trial

(Q19) Resumption of bull trend............>

WTI TECHS
WTI TECHS: (Q19) Resumption of bull trend confirmed
*RES 4: $61.98 - 76.4% retrace of the Apr 23-Jun 5 low
*RES 3: $62.58 - High May 23
*RES 2: $61.35 - High May 23
*RES 1: $60.83 - Intraday high
*PRICE: $60.84 @ 08:05 BST Jul 11
*SUP 1: $60.28 - High Jul 1 and former breakout level
*SUP 2: $58.35 - Low Jul 10
*SUP 3: $57.69 - Trendline support drawn off the Jun 18 low
*SUP 4: $56.04 - Low Jul 3
WTI has also confirmed a resumption of its uptrend. The break above the former
resistance at $60.28 has confirmed this resumption and paves the way for a climb
to $61.35, the high of Jun 23. Note that the 61.8% retracement of the Apr 23-Jun
5 decline at $60.33 has also been cleared. This now opens potential for a move
to the 76.4% retracement at $62.58. Support lies at yesterday's $58.35 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.