Downside Prevails
Our Pivot: 47.00
Our Preference: Short sell below 46.55 with strict stop loss of 47.00 and profit target at 45.80 with extension towards 45.30.
Alternate Scenario: Upward penetration of 47.00 will call for 47.65.
NOTE: WTI is have given bearish breakout of its bullish price channel on hourly chart.
Chart with supports & resistances:
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