WTI Crude Oil Intra-day Analysis 03 Aug 2016

Under Pressure

Our Pivot: 40.74

Our Preference: Short sell below 39.86 with strict stop loss of 40.74 and target at 38.82 and 38.50.

Alternate Scenario:  Upward penetration of 40.74 will call for 41.85.

NOTE: Capped by a resistant trend line along with horizontal resistant region.

Chart with Supports and Resistances