WTI Crude Oil - Support Breached !

In the last update post, several support zone/levels been identified as noted below.

1) Immediate support zone is between $43.76 and $45.51
2) Trendline (drawn on the daily chart)
3) S-Trader Trend Tracker Support level (Weekly Chart).
    Support = $44.81.

With the latest price action, it has tested some of the above mentioned supports.
 
Daily chart of West Texas Intermediate (WTI) Crude Oil.
 

Last night, the price action pierced thru' the trendline with relatively average volume traded and closed within the immediate support zone. It also broke through the final support level of S-Trader Trend Tracker (Weekly Chart) at $44.81.

Weekly Chart.


Note : S-Trader indicators/tools is not part of Metastock software package. It is our proprietary system/tools. If you have any further inquiries, please feel free to Contact Us.


Source : 
1) Metastock