Turning Down
Our Pivot: 47.75
Our Preference: Short sell below 47.00 and average it out till 47.25 with strict stop loss of 47.75 and profit target at 46.40 with extension towards 46.00.
Alternate Scenario: Upward penetration of 47.75 will call for 48.50.
NOTE: WTI is is facing rejection from resistant trend lines on daily and hourly charts.
Chart with supports & resistances:
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