- WTI keeps consolidating losses below the 22.05 resistance.
- The level to beat for bears remain the 19.35 support.
WTI four-hour chart
The recent WTI bounce is stalling below the 22.05 resistance and the 100/200 SMAs on the four chart. Since the oil market remains in a strong bear trend it remains to be seen if the above-mentioned barrier can be overcome. In fact, bears should remain in control and attempt a break of the 19.35 support in the coming sessions en route towards the 14.45 level on the way down. On the flip side, a daily close above 22.05 can lead to further strength above.
Resistance: 22.05, 26.16
Support: 19.35, 14.45
Additional key levels
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