Upside Prevails
Our Pivot: 40.30
Our Preference: Buy above 41.25 with strict stop loss of 40.30 and target at 41.86 and 42.40.
Alternate Scenario: Downward penetration of 40.30 will call for 39.65.
NOTE: Crude oil is trying to formate a head and shoulder formation but right now its trying to retest its last high.
Chart with Supports and Resistances:
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