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(X2) Finds Support

WTI TECHS
  • RES 4: $104.31 - 76.4% retracement of the Jun 8 - Sep 26 downleg
  • RES 3: $98.95 - 61.8% retracement of the Jun 8 - Sep 26 downleg
  • RES 2: $96.82 - High Aug 31
  • RES 1: $91.35/93.64 - High Oct 11 / 10 and key resistance
  • PRICE: $89.19 @ 07:13 BST Oct 14
  • SUP 1: $85.56 - Low Oct 13
  • SUP 2: $84.94 - 50.0% retracement points of the Sep 26 - Oct 10 rally
  • SUP 3: $82.89 - 61.8% retracement points of the Sep 26 - Oct 10 rally
  • SUP 4: $79.14/76.25 - Low Sep 30 / 26 and the bear trigger

The reversal higher in WTI futures on Thursday undermines the bearish theme that developed earlier this week. A key short-term support has been defined at $85.56, yesterday’s low, where a break would confirm a resumption of bearish activity. On the upside, a continuation higher would expose resistance at $93.64, the Oct 10 high. A break of this level would strengthen bullish conditions.

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