Downside Prevails
Our Pivot: 77.90
Our Preference: Start short selling WTI below 77.10 with strict stop loss of 77.90 and profit target at 75.60 with extension towards 74.50.
Alternate Scenario: Upward penetration of 77.90 will call for 79.05 and 79.50.
NOTE: WTI is being capped by an ascending trend line.
Chart with supports & resistances:
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