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  • 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: $85.01 - 1.00 proj of the Sep 21 - Oct 6 - 7 price swing
  • PRICE: $84.51 @ 07:07 BST Oct 25
  • SUP 1: $80.78 - Low Oct 20
  • SUP 2: $79.18/78.78 - 20-day EMA / Low Oct 13
  • SUP 3: $74.67 - Low Oct 7 and key near-term support
  • SUP 4: $73.92 - Low Oct 1

WTI trend conditions remain bullish and futures have started the week on a firm note. Fresh trend highs maintain 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, a Fibonacci projection. On the downside, a firm short-term support has been defined at $80.78, Oct 20 low.