Technical Forecast for WTI Crude

WTI Crude held below 99.00 to keep us short & we headed lower as expected as we close in on strong support at 97.10/90. This may hold the downside but today’s outlook remains negative so break lower is very possible for 96.45/40 & even as far as good support at 96.10/90 for a buying opportunity today with stops below 95.60.

 

If we hold on to support at 97.10/90 look for a short term recovery towards 98.03 but possibly no higher. However any further gains meet 98.67/74 for a selling opportunity with stops above 99.00.