Free Trial
JGBS

BoE To Provide BoJ With Some Breathing Room

US TSY FUTURES

TYZ2 Given

ASIA

Xi To Attend APEC Summit, Biden Yet To Decide

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(U2) Holding Onto The Bulk Of Its Recent Gains

WTI TECHS
  • RES 4: $113.87 - High Jun 17
  • RES 3: $111.14 - High Jun 29 and a key near-term resistance
  • RES 2: $102.29/108.28- 50-day EMA / High Jul 5
  • RES 1: $100.53 - 20-day EMA
  • PRICE: $99.89 @ 20:38 BST Jul 20
  • SUP 1: $91.64/88.23 - Low Jul 15 / Low Jul 14 and the bear trigger
  • SUP 2: $85.37 - Low Mar 15
  • SUP 3: $83.51 - 1.50 projection of the Jun 8 - 22 - 29 price swing
  • SUP 4: $81.34 - 1.618 projection of the Jun 8 - 22 - 29 price swing

WTI futures traded higher again Tuesday and the contract remains in a short-term corrective cycle. A recent reversal signal was confirmed on Jul 14 - a hammer candle formation. Attention is on the next firm resistance at $102.29, the 50-day EMA. A clear break of this average is required to suggest scope for a stronger recovery. On the downside, a reversal lower would refocus attention on $88.23, the Jul 14 low and bear trigger.

162 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: $113.87 - High Jun 17
  • RES 3: $111.14 - High Jun 29 and a key near-term resistance
  • RES 2: $102.29/108.28- 50-day EMA / High Jul 5
  • RES 1: $100.53 - 20-day EMA
  • PRICE: $99.89 @ 20:38 BST Jul 20
  • SUP 1: $91.64/88.23 - Low Jul 15 / Low Jul 14 and the bear trigger
  • SUP 2: $85.37 - Low Mar 15
  • SUP 3: $83.51 - 1.50 projection of the Jun 8 - 22 - 29 price swing
  • SUP 4: $81.34 - 1.618 projection of the Jun 8 - 22 - 29 price swing

WTI futures traded higher again Tuesday and the contract remains in a short-term corrective cycle. A recent reversal signal was confirmed on Jul 14 - a hammer candle formation. Attention is on the next firm resistance at $102.29, the 50-day EMA. A clear break of this average is required to suggest scope for a stronger recovery. On the downside, a reversal lower would refocus attention on $88.23, the Jul 14 low and bear trigger.