June 18, 2014
Light Sweet Crude Oil recently rose sharply – reaching the buy target 106.00 that was set in our previous report for this instrument. The breakout of this buy target follows the earlier sharp upward price impulse from the support trendline of the daily up channel from January.
This upward impulse earlier broke above the resistance trendline from last September. WTI yesterday corrected shortly down to 106.00 (acting as support now after it was broken).WTI is set to rise further to the next buy target 108.00 – followed by 110.0 (strong resistance level from last September).
The post HY MARKETS News: Commodities Report: Light Sweet Crude Oil (WTI) appeared first on | HY Markets Official blog.
