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(X1) Clears Recent Highs

WTI TECHS
  • RES 4: $80.57 - 1.50 proj of the Aug 23 - Sep 2 - Sep 9 price swing
  • RES 3: $80.00 - Psychological round number
  • RES 2: $79.53 - 1.382 proj of the Aug 23 - Sep 2 - Sep 9 price swing
  • RES 1: $78.38 - High Oct 4
  • PRICE: $77.65 @ 07:13 BST Oct 5
  • SUP 1: $75.32 - Low Oct 4
  • SUP 2: $73.14 - Low Sep 30 and key support
  • SUP 3: $71.61 - Low Sep 21
  • SUP 4: $69.39 - Low Sep 21 and key support

WTI resumed its uptrend yesterday, breaking through the $76.67 resistance, Sep 28 high and a bull trigger. The break higher also confirms an extension of the current bullish price sequence of higher highs and higher lows and attention turns to $79.53, a Fibonacci projection and the $80.00 psychological hurdle. On the downside, key short-term support has been defined at $73.14, Sep 30 low.

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