Free Trial

WTI TECHS: (Q19) Bulls in charge *RES.....>

WTI TECHS
WTI TECHS: WTI TECHS: (Q19) Bulls in charge
*RES 4: $62.86 - High May 22
*RES 3: $62.58 - 76.4% retrace of the Apr 23-Jun 5 low
*RES 2: $61.35 - High May 23
*RES 1: $60.94 - High Jul 11
*PRICE: $60.62 @ 07:40 BST Jul 12
*SUP 1: $60.14 - Low Jul 11
*SUP 2: $58.35 - Low Jul 10
*SUP 3: $58.19 - Trendline support drawn off the Jun 18 low
*SUP 4: $57.29 - Low Jul 9
WTI also resumed its uptrend this week. The break above the former resistance at
$60.28 has confirmed this resumption and paves the way for a climb to $61.35,
the high of Jun 23. Note that the 61.8% retracement of the Apr 23-Jun 5 decline
at $60.33 has also been cleared. This clears the path for a climb towards the
76.4% retracement at $62.58. Support lies at Wednesday's $58.35 low.

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.