WTI Crude Oil Intra-day Analysis 21 July 2016

Turning Down

Our Pivot: 47.16

Our Preference: Short sell below 46.14 with strict stop loss of 47.16 and target at 45.00 and 44.50.

Alternate Scenario:  Upward penetration of 47.16 will call for 47.62.

NOTE: Capped by a resistant trend line along with horizontal resistant region.

Chart with Supports and Resistances: