(V3) Bullish Conditions Remain Intact

• RES 4: $94.66 - 2.236 proj of the Jun 28 - Jul 13 - Jul 17 price swing
• RES 3: $92.17 - High Nov 8 2022 (cont)
• RES 2: $90.00 - Psychological round number
• RES 1: $88.08 - High Sep 6
• PRICE: $86.34 @ 07:10 BST Sep 8
• SUP 1: $82.50/79.44 - 20- and 50-day EMA values
• SUP 2: $73.60 - Low Jul 17
• SUP 3: $69.72 - Low Jul 3
• SUP 4: $66.83 - Low Jun 12 and key support

The uptrend in WTI futures remains intact. The recent break of resistance at $84.16, the Aug 10 high, confirmed a resumption of the uptrend and this maintains the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull mode position, highlighting current positive sentiment. Sights are on the psychological $90.00 handle. On the downside, initial firm support to watch lies at $82.50, the 20-day EMA.