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(U20) Consolidating But Remains Bullish

WTI TECHS
  • RES 4: $48.97 - High Mar 3
  • RES 3: $46.76 - High Mar 6
  • RES 2: $44.38 - Low Mar 2
  • RES 1: $42.51 - High Jul 21 and the bull trigger
  • PRICE: $41.44 @ 06:47 BST Jul 28
  • SUP 1: $39.97 - Low Jul 20
  • SUP 2: $38.77 - Low Jul 1
  • SUP 3: $38.75/37.32 - 50-day EMA / Low Jun 25 and reversal trigger
  • SUP 4: $35.01- Low Jun 15 and key support

WTI futures is consolidating but remains bullish. Last week saw
resistance at $41.74 cleared, Jun 23 high. The move confirmed a
resumption of the uptrend that has been in place since Apr 22.
Furthermore, moving average studies are also in a bull mode reinforcing
current conditions. Attention is on $44.38 next, Mar 2 low. Support has
been defined at $39.97, Jul 20. The bull trigger is $42.51, Jul 21 high.

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