WTI Breakout Underway- Bulls Attempt to Secure 80
WTI is up more than 13% off the monthly lows with the rally now testing the first major technical hurdle at 81.81. Risk for some kickback here.
A breakout of the April Downtrend keeps the focus higher while above the objective June open at 77.11 with a topside breach / close above this pivot zone needed to fuel the next leg higher.
Key topside resistance zones eyed at 84.58-85.40 and 86.67-87.13.
Broader bullish invalidation now raised to 76.
Michael Boutros, Sr Technical Strategist
MBForex
A breakout of the April Downtrend keeps the focus higher while above the objective June open at 77.11 with a topside breach / close above this pivot zone needed to fuel the next leg higher.
Key topside resistance zones eyed at 84.58-85.40 and 86.67-87.13.
Broader bullish invalidation now raised to 76.
Michael Boutros, Sr Technical Strategist
MBForex
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.