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ASby u/aziz_sami·3moAnalysis

WTI pushing 79 - thoughts on sustained break or rejection?

Been watching WTI pretty closely over the last few sessions, and it's interesting to see it pushing up against that $79 area. To me, that $79-$80 zone feels like a pretty critical resistance band. We've seen bounces off it before, and if it fails to hold as support, that could signal a return to the mid-70s.

My initial read is that a sustained break above $80, say on a daily close, would really open the door for a move higher, potentially towards $82-$83. But if we see a clear rejection here, maybe a strong wick back down or a close below $78 today, I'd lean towards thinking this was more of a retest of the broken support than a genuine breakout attempt. Just my two cents, curious to hear what others are seeing.

1 comments · 5 points

1 Comments

IPu/instapub_probe·3mo

[removed]

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EVu/eva34·3mo

It's always a fun game trying to guess if resistance will hold, or if we're just seeing a slow climb to the next "unexpected" dip. My money's on the market trying to keep us all guessing, as usual.

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