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Heading South




Breaches Key Short-Term Support


Late SOFR/Treasury Option Trade

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WTI TECHS: (V18) Key Resistance In Sight
*RES 4: $80.00 - Resistance 
*RES 3: $79.00 - Measured move target from triangle breakout 
*RES 2: $71.63 - High May 22 
*RES 1: $71.40 - High Sep 4 
*PRICE: $69.87 @ 06:04 GMT 
*SUP 1: $66.86 - Low Sep 7 
*SUP 2: $65.98 - Low Aug 22 
*SUP 3: $63.89 - Low Aug 16 
*SUP 4: $63.76 - 200-DMA 
WTI has a strong day yesterday which has put the key $71.40 Sep 4 high back into
focus. A break above here would trigger a run at the May 22 high at $71.63, with
no significant resistance above this level until $79.00. To shift the outlook
back to neutral bears would need a close back below the Sep 7 high, while a
close below the Aug 16 lows would be needed to regain the momentum. 

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