WTI Crude Oil looks ready to sell off. We are looking for another test of 96.80/70 support with a break to target 96.30/20. This is good support & we could bottom here but on a break we should test 95.75/65. Below here we test Feb lows at 95.06/94.97.

Today any rally through resistance at 97.50 up to 98.00/24 is seen as a selling opportunity again. However we need to keep stops tight above 98.50 for continued strength up to 99.52.



Long term levels

100.42     Sept High

97.84     Weekly 61.8% Fibonacci

97.74     Last Week’s High

95.04     Last Week’s Low

94.82     100 Week Moving Average

94.06     Weekly 50% Fibonacci

90.73     200 Day Moving Average

90.46     100 Day Moving Average


The article was first published by DayTradeIdeas.com