WTI Crude Daily Forecast: Shorts Risky Again

26

WTI Crude Daily Forecast: Shorts Risky Again

WTI Crude

WTI Crude is well on the way to my next target of 5420/40. We should struggle here initially in overbought conditions, but shorts look too risky. A break above 5460 targets quite strong resistance at 5555/65 for profit taking on longs. Shorts are probably too risky again, but if you try, stop above 5595.

First support at 5330/20 could hold the downside but longs need stops below 5295. Look for a bounce from 5255/45.

LEAVE A REPLY

Please enter your comment!
Please enter your name here