Technical Forecast for WTI Crude

WTI Crude hit our target of 93.72 on Friday ‘where there is a good chance of a high today. We topped just above at 93.84.

 

We are testing support at 92.12. Watch for a break below 92.00 to lead us lower again towards 91.58/40 with a low for the day possible as this is strong support. Longs will need a stop below 91.05.

 

Resistance at 92.68/78 could hold a bounce from 91.12. If trying shorts here we need a stop above 93.00 for a move towards 93.31.