WTI Price Analysis: Bulls in control, eye $74 area

• WTI bulls on track for the $74 areas in a classic breakout.
• $71.50 supports and leads to a bullish extension. 

As per the prior analysis, WTI Price Analysis: Bulls to target swing $74.20 level, the price continues to target the $74 areas as risk sentiment improves.

WTI prior analysis, daily chart

''The price has corrected to a 61.6% Fibonacci retracement level and could now be expected to extend the bullish trend to at least a -272% Fibo of the correction's range. This level comes in at 74.20 neat the mid-summer highs.''

WTI prior analysis, 4-hour chart

''The bulls could well be enthused to engage on the trendline breakout and horizontal resistance near 71.40.'' 

WTI live markets, 4-hour chart

As per the prior analysis, the price has moved accordingly, respecting the market structure on a restest of the old resistance and is making its way soundly towards the target area.