WTI Crude Oil: A break above 35.20 is a buy signal
WTI Crude are short again from 3465/85 & yesterday was immediately offered over 100 ticks profit as they hit 3338.
Daily Analysis
WTI Crude topped exactly at important longer term Fibonacci resistance at 3465/85. Shorts need stops above 3520. A break higher is our next buy signal targeting 3565/75 & resistance at 3630/40.
Minor support at 3385/65 & again at 3315/05. Below 3290 look for 3265 & strong support at 3220/00 for some profit taking on shorts. Just be aware that a break lower targets 3165/55 with minor support at 3130/20. A buying opportunity at 3075/45, with stops below 2990.
Trends
Weekly outlook is neutral.
Daily outlook is positive.
Short Term outlook is positive.
Post Comment