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WTI Crude was held by 105.20 as expected & we broke 104.50 to hit the next target of 103.65/50. We expected a low for the day & bottomed exactly here as predicted. We are oversold short term now so a bounce from here is possible again today but longs need stops below 103.20. A break lower could then target 102.68 before August lows at 102.22. Just be aware of strong Fibonacci support at 101.76 for a buying opportunity this week.
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104.50 is strong resistance & could hold the topside. However if we continue higher look for a selling opportunity at 105.10/20 with stops above 105.40. A break higher should then target 105.90.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.