Downside Prevails
Our Pivot: 106.70
Our Preference: Start short selling WTI below 105.65 with strict stop loss of 106.70 and profit target at 104.00 with extension towards 103.00.
Alternate Scenario: Upward penetration of 106.70 will call for 107.75.
NOTE: WTI is being capped by a strong horizontal resistant region.
Chart with supports & resistances:
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