Free Trial

(V18) Bull Trend Extends *RES 4: $85.00...>

WTI TECHS
WTI TECHS: (V18) Bull Trend Extends
*RES 4: $85.00 - Resistance 
*RES 3: $80.00 - Resistance 
*RES 2: $79.00 - Measured move target from triangle breakout 
*RES 1: $75.58 - Low Jan 31 2014, now resistance 
*PRICE: $71.73 @ 05:31 GMT 
*SUP 1: $66.86 - Low Sep 7 
*SUP 2: $65.98 - Low Aug 22 
*SUP 3: $63.89 - Low Aug 16 
*SUP 4: $62.60 - Low June 18 
Bulls finally managed to take out the $70 level yesterday and have since taken
out the May 22 high. A close above here would open the measured move target from
the triangle breakout at around $79. Bears need a close below the Sep 7 low at
$66.86 to return the focus to the downside. A close below the Aug 16 lows would
suggest a topping pattern is in play, opening up the June 18 lows.

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.