Downside Prevails
Our Pivot: 107.50
Our Preference: Start Short selling WTI below 106.80 with strict stop loss of 107.50 and profit target at 105.00 with extension towards 104.00.
Alternate Scenario: Upward penetration of 107.50 will call for 108.00 and 109.40.
NOTE: WTI is being capped by a strong horizontal resistant region.
Chart with supports & resistances:
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