WTI Price Analysis: Sellers look for entry below weekly support line under $34.00
|- WTI struggles to remain strong around 10-week top of $34.74.
- Weekly horizontal support add to the downside barriers.
- Bulls may aim to fill the early-March gap during the fresh run-up.
WTI again bounces off the weekly support line while taking rounds to $34.05/10 amid the initial Asian session on Friday.
Even so, the black gold stays comfortably below the previous day’s top, also the highest since March 11, around $34.75.
In a case where the quote’s sustained trading beyond the support line enables it to cross $34.75, the bulls may target to fill the gap between March 11 top of $36.64 and March 06 low near $41.20.
Meanwhile, a downside break of $33.90, comprising the aforementioned support line, could drag the energy benchmark to the weekly horizontal support area near $33.10/33.00.
If at all the bears manage to dominate past-$33.00, $31.20 and $30.00 will be on their radars.
WTI 30-minutes chart
Trend: Pullback expected
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