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Free Access(Z18) Lows Holding *RES 4: $72.29 -.......>
WTI TECHS: (Z18) Lows Holding
*RES 4: $72.29 - High Oct 17
*RES 3: $70.00 - Resistance area
*RES 2: $65.25 - 200-dma
*RES 1: $60.00 - Resistance
*PRICE: $56.76 @ 06:07 GMT
*SUP 1: $54.75 - Low Nov 13
*SUP 2: $51.00 - Up trendline support from Jan 2016 lows
*SUP 3: $50.01 - Low Oct 6, 2017
*SUP 4: $45.51 - Low Jun 21, 2017
Bears' attempts to break below the Nov 13 low yesterday failed as support was
found ahead of $55, which gives bulls hope of a potential recovery. Bulls now
need to reclaim the $60 level to shift the outlook neutral. Above here would
open the 200-dma, currently at $65.25, above which would return the focus to the
upside. Bears look to close below $54.75 to accelerate the downtrend opening up
trendline support from the 2016 lows comes in at $51.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.