(Z1) Key Resistance Remains Intact

• RES 4: $88.96 - 1.382 proj of the Sep 21 - Oct 6 - 7 price swing
• RES 3: $87.45 - 1.236 proj of the Sep 21 - Oct 6 - 7 price swing
• RES 2: $86.00 - Round number resistance
• RES 1: $84.97/85.41 - High Nov 10 / High Oct 25 and the bull trigger
• PRICE: $80.91 @ 07:07 GMT Nov 12
• SUP 1: $80.81/78.25 - Low Nov 10 / Low Nov 4 and key support
• SUP 2: $78.06- 50-day EMA
• SUP 3: $74.67 - Low Oct 7 and key near-term support
• SUP 4: $72.82 - Low Sep 30

WTI futures gains stalled Wednesday and futures traded lower. Recent gains have exposed key resistance and the bull trigger at $85.41, Oct 25 high. A break of this bull trigger would confirm a resumption of the uptrend and resume the bullish price sequence of higher highs and higher lows. This would open $87.45, a Fibonacci projection. On the downside, key short-term support has been defined at $78.25 Nov 4 low. A break would be bearish.