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(X1) Heading North

WTI TECHS
  • RES 4: $75.00 - Round number resistance
  • RES 3: $74.08 - 0.764 proj of the Aug 23 - Sep 2 - Sep 9 price swing
  • RES 2: $73.58 - High Jul 6 and the bull trigger
  • RES 1: $72.87 - High Sep 15
  • PRICE: $72.40@ 07:08 BST Sep 23
  • SUP 1: $69.39 - Low Sep 21
  • SUP 2: $67.35 - Low Sep 9 and key support
  • SUP 3: $67.15 - Low Aug 24
  • SUP 4: $61.50 - Low Aug 23 and the bear trigger

WTI futures maintain a bullish outlook following last week's gains. Tuesday's price pattern was a bullish doji candle, reinforcing current bull trend conditions. Last week's gains resulted in a break of the bear channel top drawn off the Jul 6 high. The move higher strengthens a bullish theme and signals scope for further short-term gains. The focus is on $73.58 next, Jul 6 high and the bull trigger. Key support is at $67.35, Sep 9 low.

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