Under Pressure
Our Pivot: 111.30
Our Preference: Start short selling WTI below 110.60 with strict stop loss of 111.30 and profit target at 109.25 with extension towards 108.30.
Alternate Scenario: Upward penetration of 111.30 will call for 112.50 and 114.
NOTE: WTI is being capped by a strong horizontal resistant region.
Chart with supports & resistances:
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