Free Trial

(U20) Tops 42.51 Trigger

WTI TECHS
  • RES 4: $48.96 - High Mar 3
  • RES 3: $46.76 - High Mar 6
  • RES 2: $44.38 - Low Mar 2
  • RES 1: $43.52 - High Aug 5
  • PRICE: $41.86 @ 08:26 BST Aug 7
  • SUP 1: $38.72 - Low Jul 30
  • SUP 2: $37.32 - Low Jun 25 and a reversal trigger
  • SUP 3: $35.01- Low Jun 15 and key support
  • SUP 4: $33.25 - Low May 29

Bulls made light work of the $42.51 resistance Wednesday, setting the stage for a broader recovery. This failed to materialise, however, on Thursday as prices consolidated. $44.38 and $46.76 are the next upside targets. Downside focus remains on key near-term pivot support at $38.72 which, if broken, would open $37.32, Jun 25 low. A breach of this latter level would also signal the start of a more significant reversal.

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.