Tactical Strategies - WTI support
Z 2024 WTI: support is found basis longer term charts as the market continues to probe these key regions.
Top Chart: the 200 week average (blue line) at 68.43 is an area of support that is currently being tested. Action below may trigger some sell stops, but it has been fleeting and short lived. The slope of the line is still pointing in an upward fashion.
Bottom chart: the 50 month average (blue line at 66.3) has been tested the past 2 months. A month end close below may attract longer term technical selling interest.
Further support lies at 64.70, then 59.45.
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