Turning Down
Our Pivot: 112.50
Our Preference: Short sell WTI below 111.80 with strict stop loss of 112.50 and profit target at 110.80 with extension towards 110.30.
Alternate Scenario: Upward penetration of 112.50 will call for 114.10.
NOTE: WTI is being capped by a strong horizontal resistant region along with an ascending trend line and hourly momentum indicators have started a bearish trend.
Chart with supports & resistances:
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