Downside Prevails
Our Pivot: 119.25
Our Preference: Start Short selling WTI below 118.55 with strict stop loss of 119.25 and profit target at 117.65 with extension towards 117.15.
Alternate Scenario: Upward penetration of 119.25 will call for 119.87 and 120.30.
NOTE: WTI is in expansion mode of its previous bearish correction.
Chart with supports & resistances:
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