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(V20) Looking For A Break Higher

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: $42.70 @ 06:58 BST Aug 20
  • SUP 1: $41.33 - Low Aug 7 and key near-term support
  • SUP 2: $39.00 - Low Jul 30 and the reversal trigger
  • SUP 3: $37.56 - Low Jun 25
  • SUP 4: $35.25 - Low Jun 12 and key support

WTI futures continue to consolidate. The outlook though remains bullish. Attention is on the bull trigger at $43.68, Aug 5 high where a break would confirm a resumption of the uptrend and open $44.40, Mar 2 low and $45.00. The core trend sequence of higher highs and higher lows remains intact, reinforcing underlying bullish conditions. Key near-term support remains $41.33, Aug 7 low.

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