(Q4) Key Resistance Remains Exposed

• RES 4: $90.78 - High Oct 20 2023 (cont)
• RES 3: $90.00 - Psychological round number
• RES 2: $85.27 - High Apr 12 and the bull trigger
• RES 1: $84.52 - High Jul 5
• PRICE: $82.70 @ 07:18 BST Jul 8
• SUP 1: $79.52 50-day EMA
• SUP 2: $74.94/72.44 - Low Jun 10 / 4
• SUP 3: $71.05 - Low Feb 5
• SUP 4: $69.22 - Low Dec 13 ‘23 and a key support

A bull cycle in WTI futures remains in play and short-term weakness is considered corrective. The recent breach of $80.11, the May 29 high and a key resistance, strengthened a bullish theme. Note too that $82.24, 76.4% of the Apr 12 - Jun 4 bear leg, has been cleared. Furthermore, moving average studies are in a bull-mode set-up. Sights are on $85.27, the Apr 12 high and a bull trigger. Initial firm support to watch is $79.52, the 50-day EMA.