Free Trial

(X18) Bears Need To Defend $75 *RES 4:....>

WTI TECHS
WTI TECHS: (X18) Bears Need To Defend $75
*RES 4: $85.00 - Resistance 
*RES 3: $81.00 - Channel top 
*RES 2: $80.00 - Resistance 
*RES 1: $76.90 - High Oct 3 
*PRICE: $74.64 @ 05:34 GMT 
*SUP 1: $73.00 - Low Oct 1 
*SUP 2: $70.00 - Support 
*SUP 3: $66.67 - Low Sep 7 
*SUP 4: $65.63 - Low Aug 22 
The failure to close above $75 yesterday and on Monday keeps the short-term
outlook neutral but the bigger picture trend remains positive and the cycle high
of $76.90 lies just ahead. Bears need to defend the $75 level to prevent a
retest of the Oct 3 highs and keep the pressure on the Oct 1 low at $73. Below
here would suggest a potentially large reversal pattern, but for now the bulls
have the edge.

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.