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(X1) Probes The Bull Trigger

WTI TECHS
  • RES 4: $76.16 - 0.764 proj of the Aug 23 - Sep 2 - Sep 9 price swing
  • RES 3: $75.00 - Round number resistance
  • RES 2: $74.08 - 0.764 proj of the Aug 23 - Sep 2 - Sep 9 price swing
  • RES 1: $73.66 - Intraday high
  • PRICE: $73.38@ 07:12 BST Sep 24
  • SUP 1: $71.61 - Low sep 21
  • SUP 2: $69.39 - Low Sep 21 and key support
  • SUP 3: $67.35 - Low Sep 9 and key support
  • SUP 4: $67.15 - Low Aug 24r

WTI futures maintain a bullish outlook. Tuesday's price pattern was a bullish doji candle, reinforcing current bull trend conditions. The subsequent rally has resulted in a print above resistance at $73.58, the Jul 6 high and a bull trigger. A clear break would confirm a resumption of the uptrend and pave the way for gains towards $74.08 initially, a Fibonacci projection. Key support is unchanged at $67.35, Sep 9 low.

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