Downside Prevails
Our Pivot: 117.10
Our Preference: Start Short selling WTI below 116.25 with strict stop loss of 117.10 and profit target at 114.75 with extension towards 114.00.
Alternate Scenario: Upward penetration of 117.10 will call for 118.00 and 119.50.
NOTE: WTI is being capped by a horizontal resistant region.
Chart with supports & resistances:
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