WTI Crude resistance at 94.40/50 has held the last couple of sessions & we can try shorts here again today with stops above 94.90. We should then test the next resistance at 95.50 for another selling opportunity with stops above 96.00. A break higher could take us as far as 97.00/17 May highs.
With the daily chart looking negative, failure to break 94.50 targets 92.85/75 support with the
200 day moving average just below at 92.30 & a potential low for the day. We could try small
longs here with stops below 92.00. We then look for the next support at 91.60/40.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in