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(Z20) Bull Rally

WTI TECHS
  • RES 4: $43.84 - High Sep 2
  • RES 3: $42.56 - High Sep 4
  • RES 2: $42.02 - High Sep 18 and key resistance
  • RES 1: $41.33 - High Nov 9
  • PRICE: $39.94 @ 06:44 GMT Nov 10
  • SUP 1: $37.06 - Low Nov 6 and key near-term support
  • SUP 2: $36.57 - Low Nov 3
  • SUP 3: $33.64 - Low Nov 2 and the bear trigger
  • SUP 4: $33.12 - Low May 22 and a key support

WTI futures traded sharply higher yesterday clearing last week's peak at $39.35 and more importantly also trading through resistance defined by the 20- and 50-day EMAs. The break higher has exposed resistance at $42.02, Sep 18 high where a breach would trigger stronger upside and open $42.56 Sep 4 high. On the downside, firm support has been defined at $37.06, the Nov 6 low.

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