Under Pressure
Our Pivot: 53.25
Our Preference: Short sell below 52.70 with strict stop loss of 53.25 and profit target at 52.00 with extension towards 51.60.
Alternate Scenario: Upward penetration of 53.25 will call for 53.80.
NOTE: WTI is moving in a bearish price channel and right now heading for a correction of its last bearish rally.
Chart with supports & resistances:
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