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(X1) Needle Still Points North

WTI TECHS
  • RES 4: $84.97 - 2.00 proj of the Aug 23 - Sep 2 - Sep 9 price swing
  • RES 3: $84.00 - Round number resistance
  • RES 2: $82.89 - 1.764 proj of the Aug 23 - Sep 2 - Sep 9 price swing
  • RES 1: $82.18 - High Oct 11
  • PRICE: $80.61 @ 07:05 BST Oct 13
  • SUP 1: $78.63 - Low Oct 8
  • SUP 2: $74.96 - Low Oct 7 and key near-term support
  • SUP 3: $73.14 - Low Sep 30 and key support
  • SUP 4: $71.61 - Low Sep 21

WTI trend conditions remain bullish and the contract started this week on a firm note. Monday's gains confirmed an extension of the current bullish price sequence of higher highs and higher lows, reinforcing the uptrend. Note that the $80.00 psychological hurdle has also been cleared. The focus is on $82.89, a Fibonacci projection. On the downside, key short-term support has been defined at $74.96, Oct 7.

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