Downside Prevails
Our Pivot: 79.68
Our Preference: Start short selling WTI below 79.00 with strict stop loss of 79.68 and profit target at 77.75 with extension towards 77.20.
Alternate Scenario: Upward penetration of 79.68 will call for 80.50.
NOTE: WTI is being capped by its previous supportive region.
Chart with supports & resistances:
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