30 Apr 2015
WTI is breaking higher - BAML
FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, remains bullish on WTI, anticipating a move higher towards 67.84.
Key Quotes
“We reiterate our bullish view on WTI. The June 2015 WTI contract (CLM5) has recently completed a 3m Double Bottom following the push above 57.27. Upside targets are seen to 67.84. A move back below 51.82 (Apr-08 low) is needed to indicate a false break and renewed range-trading support confirms.”
Key Quotes
“We reiterate our bullish view on WTI. The June 2015 WTI contract (CLM5) has recently completed a 3m Double Bottom following the push above 57.27. Upside targets are seen to 67.84. A move back below 51.82 (Apr-08 low) is needed to indicate a false break and renewed range-trading support confirms.”