WTI Crude..bullish for choice above here but asking that downtrend resistance at 62.32 is taken out to add weight to this idea. Chart/Analysis – Clive Lambert

 

Summary: Mixed trade for now but still favouring the bulls “bigger picture”… Breaking 59.95-60.11 would force a rethink.

The trendline moves up to 60.05 on the continuation chart today. So we’re bullish for choice above here but asking that downtrend resistance at 62.32 is taken out to add weight to this idea.

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About the author

Clive Lambert is the founder, and continues to be the main contributor, for FuturesTechs. He has been in the City for 30 years, has been in the Futures Market for 25+ years as a Broker and Trader, and has been writing Technical Analysis for over 15 years. He is a Board Member of the U.K. Society of Technical Analysts. He has spoken at several of the Society's monthly meetings over the years and has also been enlisted as a regular lecturer on the Society's annual Diploma Course, covering a wide range of subjects. He was on the board between 2003 and 2011 and rejoined in 2015.