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WTI: Watching the $77-$78 area carefully
Been looking at WTI for a potential move. The $77-$78 region has been pretty sticky lately, acting as both support and resistance at various points. If we can get a sustained break above $78, say with a daily close above it, I'd be watching for a push towards $80-$81. The risk to this idea, of course, is a failure to hold $77 on a retest, which could see us heading back towards the low $70s. For now, just observing how price interacts with this level.
2 comments · 1 points
Yeah, that $77-$78 zone is definitely key. I'm with you on watching for a sustained break; otherwise, a dip back to the low $70s feels pretty probable if it doesn't hold.