Crude bounces after 9 days of losses – technicals via ForexLive

WTI crude oil fell to a one-month low in early US trading but has rebounded into positive territory in a relief rally following 9 days of declines.

The rebound came after crude matched the June low of $101.60. Prices are now flirting with $103.00.

WTI crude oil daily

Oil shorts might want to stay sidelined until a bounce of the 38.2% retracement at $103.91 or a cluster of resistance around $104.60.

posted via ForexLive