( USOIL ) WTI tests major support
( USOIL ) WTI held ground after repeated tests at the recent support of 57.70. After the black gold sank below 59.00, the latest rebound attempts have struggled to gain traction with 59.00 firmly established as a major resistance. A subsequent drop below 57.50 would signal a lack of buyer commitment and could open the door to prolonged weakness, with 56.80 as the next stop. On the upside, 58.00 is the immediate resistance to clear to alleviate the bearish pressure.
AUDUSD falls from peak
The Aussie attempted to continue it rally after jumping over 200 pips in recent sessions. After hitting a firm resistance at 0.6680, the price looks a bit exhausted after falling towards 0.6600. A move below this support would indicate profit-taking by intraday buyers, denting the near-term mood. As the RSI drops away from overbought territory, 0.6550 is a key level to maintain the rebound momentum. 0.6660 is the first resistance should the buy side start to make their way back.
UK 100 stuck consolidating
The FTSE treads water after failing to break out of its recent sideways channel. The index has met stiff resistance, with 9730 proving a tricky level to break. 9620 is the closest support to keep the momentum intact, or the critical floor at 9540 would be exposed once again. A close above the said firm resistance would force short-term sellers to cover and lay the foundation for a move higher to the peak of 9920, raising the odds of a bullish continuation.
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