Free Trial

(V20) Focus Is On Key Resistance

WTI TECHS
  • RES 4: $46.84 - High Mar 6
  • RES 3: $45.00 - Round number resistance
  • RES 2: $44.40 - Low Mar 2
  • RES 1: $43.68 - High Aug 5 and the bull trigger
  • PRICE: $43.35 @ 06:34 BST Aug 26
  • SUP 1: $41.46 - Low Aug 21 and key near term key support
  • SUP 2: $39.89 - Low Aug 3
  • SUP 3: $39.00 - Low Jul 10 and 30 and a reversal trigger
  • SUP 4: $37.89 - Low Jun 29

The WTI futures traded higher again yesterday. The climb has exposed key resistance at $43.68, Aug 5 high and the key bull trigger. A break would negate recent bearish concerns and more importantly confirm a resumption of the underlying uptrend. This would open $45.00 initially. On the downside, key near-term support has been defined at $41.46, Aug 21 low. A breach would highlight a bearish threat.

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.