WTI Crude Oil Intra-day Analysis 11 May 2016

Under Pressure

Our Pivot: 45.30

Our Preference: Short sell below 44.60 with strict stop loss of 45.30 and target at 43.85 and 43.15.

Alternate Scenario: Upward penetation of 45.30 will call for 45.78 and 46.10.

NOTE: Capped by a bearish trend line and 61.8% correction is also completed.

Chart with Supports and Resistances: