MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(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.

Energy BulletsCommodities
Energy BulletsCommodities

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.