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CORN TECHS

(Z2) Pierces Support

US TSYS

What to Watch: Oct CPI, Fed Speakers

SONIA

CORRECTED SONIA FIX - 10/11/22

US TSYS

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(Z2) Bullish Outlook

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(X2) Remains Above Last Week’s Lows

WTI TECHS
  • RES 4: $97.91 - High Jul 29 and a reversal trigger
  • RES 3: $92.26/96.82 - High Aug 30 / 31 and key resistance
  • RES 2: $87.26 - 50-day EMA
  • RES 1: $83.31 - 20-day EMA
  • PRICE: $81.86 @ 07:13 BST Oct 3
  • SUP 1: $76.11 - 1.618 proj of the Jul 29 - Aug 16 - 30 price swing
  • SUP 2: $75.70 - Low Jan 24
  • SUP 3: $71.22 - 2.00 proj of the Jul 29 - Aug 16 - 30 price swing
  • SUP 4: $68.20 - 2.236 proj of the Jul 29 - Aug 16 - 30 price swing

WTI futures are trading closer to recent highs. Bearish conditions remain intact though and the climb from last Monday’s low is considered corrective. The contract has recently cleared support at $80.89, Sep 8 low. This marks a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The move lower opens $76.11 next, a Fibonacci projection. Key short-term resistance is at $87.26, the 50-day EMA.

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  • RES 4: $97.91 - High Jul 29 and a reversal trigger
  • RES 3: $92.26/96.82 - High Aug 30 / 31 and key resistance
  • RES 2: $87.26 - 50-day EMA
  • RES 1: $83.31 - 20-day EMA
  • PRICE: $81.86 @ 07:13 BST Oct 3
  • SUP 1: $76.11 - 1.618 proj of the Jul 29 - Aug 16 - 30 price swing
  • SUP 2: $75.70 - Low Jan 24
  • SUP 3: $71.22 - 2.00 proj of the Jul 29 - Aug 16 - 30 price swing
  • SUP 4: $68.20 - 2.236 proj of the Jul 29 - Aug 16 - 30 price swing

WTI futures are trading closer to recent highs. Bearish conditions remain intact though and the climb from last Monday’s low is considered corrective. The contract has recently cleared support at $80.89, Sep 8 low. This marks a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The move lower opens $76.11 next, a Fibonacci projection. Key short-term resistance is at $87.26, the 50-day EMA.