(Z1) Still Climbing

• RES 4: $87.45 - 1.236 proj of the Sep 21 - Oct 6 - 7 price swing
• RES 3: $86.00 - Round number resistance
• RES 2: $85.01 - 1.00 proj of the Sep 21 - Oct 6 - 7 price swing
• RES 1: $83.96 - Intraday high
• PRICE: $83.22 @ 07:08 BST Oct 21
• SUP 1: $80.78 - Low Oct 20
• SUP 2: $78.78 - Low Oct 13
• SUP 3: $77.76 - 20-day EMA
• SUP 4: $74.67 - Low Oct 7 and key near-term support

WTI trend conditions remain bullish and the contract has traded to a fresh trend high today. The continued move higher maintains the bullish price sequence of higher highs and higher lows, reinforcing the uptrend. Note that the $80.00 psychological hurdle has also recently been cleared, an important break. The focus is on $85.01 next, a Fibonacci projection. On the downside, key short-term support has been defined at $80.78, Oct 20 low.