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(Z1) Remains Below Recent Highs

WTI TECHS
  • 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: $85.41 - High Oct 25 and the bull trigger
  • PRICE: $82.71 @ 06:56 GMT Nov 3
  • SUP 1: $81.43/80.58 - 20-day EMA / Low Oct 28
  • SUP 2: $78.78 - Low Oct 13
  • SUP 3: $76.95 - 50-day EMA
  • SUP 4: $74.67 - Low Oct 7 and key near-term support

WTI futures remain below recent highs. Attention is on the 20-day EMA that intersects at $81.43 and support at $80.58, Oct 28 low. A clear breach of this $81.43 - $80.58 support zone would signal scope for a deeper pullback and open $78.78, Oct 13 low. The 50-day EMA lies at $76.95. Key resistance and the bull trigger has been defined at $85.41, Oct 25 high. A break would confirm a resumption of the uptrend.

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