Free Trial

WTI TECHS(J19) Challenging Nov 16 Highs...>

OIL TECHS
OIL TECHS: WTI TECHS(J19) Challenging Nov 16 Highs
*RES 3: $62.66 - Low Aug 15
*RES 2: $62.04 - 200-dma 
*RES 1: $59.98 - Channel top 
*PRICE: $58.80 @ 07:29 GMT Mar 15 
*SUP 1: $56.65 - 21-dma 
*SUP 2: $54.60/52 - 100-dma/Low Mar 8
*SUP 3: $54.16 - 50-dma 
*SUP 4: $51.23 - Low Feb 11
WTI futures breached 58.50 and extended the rally to fresh multi-month highs of
$58.74. Consolidation above here opens channel top resistance at $59.98, ahead
of the 200-dma at $62.04. On the downside bears need a close below the 21-dma to
bring the 100-dma & Friday's low into view at $54.60/52. Below here would
suggest a potential downside reversal to the 50-dma at $54.16.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.