Crude Oil (WTI) Daily Chart : Consolidation in Place
Pivot: 51.65
Preference: short positions below 51.65 with targets at 45.00 & 43.75 in extension.
Alternative scenario: above 51.65 look for further upside with 53.60 & 55.00 as targets.
Comment: as long as 51.65 is resistance, likely decline to 45.00.
Supports and resistances:
55.00 **
53.60 **
51.65 ***
47.14 Last
45.00 ***
43.75 **
42.10 **
Preference: short positions below 51.65 with targets at 45.00 & 43.75 in extension.
Alternative scenario: above 51.65 look for further upside with 53.60 & 55.00 as targets.
Comment: as long as 51.65 is resistance, likely decline to 45.00.
Supports and resistances:
55.00 **
53.60 **
51.65 ***
47.14 Last
45.00 ***
43.75 **
42.10 **
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