Under Pressure
Our Pivot: 48.75
Our Preference: Short sell below 48.25 with strict stop loss of 48.75 and profit target at 47.30 with extension towards 46.70.
Alternate Scenario: Upward penetration of 48.75 will call for 49.60.
NOTE: WTI have given bearish breakout of its ascending wedge in downward direction.
Chart with supports & resistances:
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