(V1) Bear Channel Breakout

• RES 4: $76.43 - 1.00 proj of the Aug 23 - Sep 2 - Sep 9 price swing
• RES 3: $75.00 - Round number resistance
• RES 2: $74.77 - High Jul 7 and the bull trigger
• RES 1: $73.52 - High Jul 30
• PRICE: $72.61 @ 07:10 BST Sep 16
• SUP 1: $69.16 - 20-day EMA
• SUP 2: $67.56 - Low Sep 9 and key support
• SUP 3: $65.41 - Low Aug 24
• SUP 4: $61.74 - Low Aug 23 and the bear trigger

WTI futures maintain a bullish outlook and the contract rallied yesterday. This has resulted in a break of $71.30, the bear channel top drawn off the Jul 6 high. The move higher strengthens the current bullish theme and signals scope for further short-term gains. The focus is on $73.52 next, Jul 30 high ahead of the primary resistance and bull trigger at $74.77, Jul 7 high. Key support has been defined at $67.56, Sep 9 low.