Under Pressure
Our Pivot: 81.25
Our Preference: Start short selling WTI below 80.20 with strict stop loss of 81.25 and profit target at 79.20 with extension towards 78.00.
Alternate Scenario: Upward penetration of 81.25 will call for 82.00 and 82.30.
NOTE: WTI is being capped by a horizontal resistance and hourly momentum indicators have changed their direction towards bearish side.
Chart with supports & resistances:
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