WTI: Buy the dips? - Natixis

Analysts at Natixis provide a brief technical outlook for trading the US oil in the week ahead.

Key Quotes:

“The weak daily volatility, the fact that the daily indicators have turned around and the recovery of the weekly indicators plead for an extension of the rally in the coming days.”

“We’ll keep a lookout at the resistance at 54.60 (daily Bollinger upper band) whose break would send a fresh buy signal, providing fresh bullish momentum towards 55.50 (annual Bollinger moving average) and 56.75-56.95 (weekly Bollinger upper band) even 58.80 (Fibonacci extensions).”

“The supports are located at 52.70, at 51.95, at 50.80 and at 49.95.”