Turning Down
Our Pivot: 111.50
Our Preference: Short sell WTI below 110.75 with strict stop loss of 111.50 and profit target at 109.85 with extension towards 108.90.
Alternate Scenario: Upward penetration of 111.50 will call for 112.50 and 113.30.
NOTE: WTI is being capped by a strong horizontal resistant region and intraday momentum indicators have changed their direction towards bearish side.
Chart with supports & resistances:
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