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Free Access(U3) Trend Needle Points North
- RES 4: $83.59 - High Jul 11 2022
- RES 3: $81.75 - High Jan 23
- RES 2: $81.44 - High Apr 12 and key resistance
- RES 1: $80.71- High Jul 28
- PRICE: $80.31 @ 07:12 BST Jul 31
- SUP 1: $76.10/73.78 - 20-day EMA / Low Jul 17
- SUP 2: $69.82/66.98 - Low Jul 3 / Low Jun 12 and key support
- SUP 3: $64.22 - Low May 4 and the bear trigger
- SUP 4: $62.43 - Low Dec 2 2021 (cont)
The uptrend in WTI futures remains intact - last week’s gains confirmed a resumption of the bull cycle. The break above $77.15, the Jul 13 high signals scope for an extension towards the next key resistance at $81.44, the high on Apr 12 / 13. Moving average studies are in a bull-mode position, reinforcing current positive conditions. Key short-term support has been defined at $73.78, the Jul 17 low.
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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.