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WTI Crude Oil Holds Strong Support at 8000/7950; S&P 500 Bulls Remain in Control

ByJason Sen
Published 03/26/2024, 04:39 AM
Updated 07/09/2023, 06:31 AM

WTI Crude MAY Future:
  1. WTI Crude held above strong support at 8000/7950 and unfortunately we did not get a buying opportunity here yesterday. Longs here today need stops below 7900.
  2. We shot higher to my targets of 8180/8200 and almost as far as 8255/75, with a high for the day at 8248.
  3. Further gains are expected in the 4-month bull trend and above 8290 look for 8370/90 as the next target.
  4. Today's support is at 8140/8110. Longs need stops below 8070.
    Targets: 8200, 8240, 8290.

Emini S&P June Future:

Emini S&P: bulls remain in control, with buying the dips still the winning strategy, despite the market looking tired and I believe entering an overdue sideways consolidation.

  • Further gains are expected on the bullish breakout, targeting 5221/24 and 5338/42.
  • Obviously, I remain a buyer on any weakness in the unstoppable bull trend.
  • First support at 5245/35. Longs need stops below 5225.
  • The best support for this week should be at 5195/85 and longs need stops below 5170.

Trade Ideas

Latest comments

sir what about gold and silver?
Would be easier to understand for common people if you mention price levels along with support and resitance levels
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