WTI

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ORIGINAL UPDATE TO SUBSCRIBERS   - 28th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 30th Jan 2021

[WTI March Futures Update] At a micro-level, WTI has been repeatedly attempting to probe the key resistance at 53.65-53.95. Only a strong break of this level shall shift the focus to the larger degree key resistance at 54.95-55.35.

The immediate key support continues to remain at 51.50-51.60 which has been tested multiple times but has held strong so far.

The macro-level update has not changed much. WTI continues to remain in a larger degree bullish setup above the critical key support at 45.40-45.70. 

That said, it is approaching a few BIGGER HURDLES in the 54-58 zone which shall constantly attempt to push back and trigger frequent technical corrections.

ORIGINAL UPDATE TO SUBSCRIBERS   - 20th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 30th Jan 2021

[WTI March Futures Update] Please note the change in contract from February to March. The micro-pattern remains the same. Only the key levels have shifted slightly in light of the change in contract.

WTI has again bounced off the key support at 51.60-51.80. It has also formed a local support at 52.40-52.60. As long as these hold, WTI has the license to make another attempt to reach the larger degree key resistance at 54.95-55.35. 

Only a break below 51.60 shall expose the next key supports at 50.80-50.95 followed by 49.70-49.90.

ORIGINAL UPDATE TO SUBSCRIBERS   - 17th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 30th Jan 2021

[WTI February Futures Update] WTI has been continuously attempting to bounce off the key support at 51.70-52.00 (slightly calibrated) in the last few trading sessions, but starts losing traction as it gets closer to the larger degree key resistance at 54.55-54.80. WTI has the license to make multiple attempts to reach the resistance as long as it operates above 51.70.

A break below 51.70 shall expose the adjacent key supports at 50.60-50.85 and 49.95-50.25

ORIGINAL UPDATE TO SUBSCRIBERS   - 10th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 20th Jan 2021

[WTI February Futures Update] In line with the previous micro-update (tagged), WTI is continuing its journey higher within a larger degree bullish setup and has reached the 52+ zone. It has also broken the nearest resistance. 

 

While the next key resistance is at 54.55-54.80, WTI will need to operate above the newly formed key support at 51.10-51.35 if it intends to target this level.

ORIGINAL UPDATE TO SUBSCRIBERS   - 07th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS     - 20th Jan 2021

[WTI February Futures Update] In our macro-level updates covered in the last few months, we have been consistently maintaining that WTI remains in a larger degree bullish setup and that it is only a matter of time before it conquers the 50-55 zone. 

Now that WTI has entered this region, it is important to review the technicals in detail.

At a macro-level, while WTI remains in a bullish setup, it is not going to be all smooth sailing. WTI shall encounter BIGGER HURDLES in the 52-58 region which have the potential to trigger a larger degree technical correction. So, keep a close eye on the micro-level updates, know your technical parameters, and plan to position accordingly.