Downside Prevails
Our Pivot: 74.50
Our Preference: Start short selling WTI below 74.05 with strict stop loss of 74.50 and profit target at 73.00 with extension towards 72.30.
Alternate Scenario: Upward penetration of 74.50 will call for 75.40 and 76.00.
NOTE: WTI is being capped by horizontal resistant region.
Chart with supports & resistances:
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