• WTI bulls eye a continuation from support structure. 
• Bulls remain in control on the front side of the bullish trend. 

As per the prior analysis, WTI Price Analysis: Bulls are engaged, eyes on upside break, where a bullish bias was mapped out on the charts, the following illustrates the bullish developments according to the analysis:

WTI prior analysis

We had a major double bottom on the longer-term outlook. 

Zooming in, we saw that the market had broken out of the bearish trend and is now riding a dynamic support line. 

We had a W-formation neckline area that was being respected also. 

The Fibonacci retracement tool measured across the bullish impulse saw the 78.6% Fibo meeting the support line and lows of the correction. 

WTI Updates

The daily chart shows the price popping higher into test resistance. The 4-hour chart, below, shows that there could be support at this juncture and move higher: