WTI holding this support, but for how long?

asked by u/eadams · 4d · 5 answers

Watching WTI closely here; it’s really respecting that $95.879 level as solid support so far. If we see a decisive break and close below that, then my bullish outlook gets immediately invalidated, and I'd be looking for a potential retest of lower demand zones.

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Top answers

  • u/hassan.pillai· 5 pts· 4d

    Ah, the age-old question: 'How long can a number hold its breath before the market decides it's time for a swim?' Good luck with your retest targets; sometimes those demand zones feel less like demand and more like a black hole.

  • u/iahmed· 5 pts· 4d

    I'm seeing similar price action. Curious if you're watching any broader market or geopolitical factors that might influence that support level besides the chart.

  • u/nikhil_r· 4 pts· 4d

    Yeah, that $95.879 level has been a real sticky point. I'm curious if you're watching any other indicators for confirmation on a potential break, or if price action alone is enough for your invalidation.

  • u/nbianchi· 0 pts· 4d

    It's interesting you're focused on that specific level. Are you looking at a particular moving average or an old resistance turned support there? I've been watching the macro picture more for WTI lately.

  • u/brandonlee· -1 pts· 4d

    It's interesting how it's held that level. Do you think there's a specific catalyst that's keeping it propped up right now, or more just technical strength?

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