Free Trial

(U2) Solid Bounce Into the Close


Bullish Price Structure


Clears Key Support


Retracement Mode


Oil Supply Constraints Trump Lower Demand


Pullback Considered Corrective

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
OIL TECHS: WTI TECHS: (N19) Bearish technical signals intact
*RES 4: $59.10 - 100-dma
*RES 3: $58.52 - 50% of Apr-May fall
*RES 2: $57.33 - Low May 23
*RES 1: $54.84 - High Jun 10
*PRICE: $51.81 @ 06:00 GMT Jun 18
*SUP 1: $50.60 - Low June 5
*SUP 2: $49.45 - 76.4% retracement of Dec-Apr rally
*SUP 3: $48.39 - High Dec 26
*SUP 4: $44.49 - L/T Trendline
WTI has been leading the way technically among the oil-based futures recently
and the contract continues to give bearish signals currently. Both momentum and
trend indicators remain in a bear mode overall reinforcing the bearish stance. A
break below the $51.70 support will put the lows at $50.60 back under pressure,
with the potential to extend the downtrend towards the $44.49 trendline.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.