Downside Prevails
Our Pivot: 102.25
Our Preference: Start short selling WTI below 100.65 with strict stop loss of 102.25 and profit target at 98.00 with extension towards 96.00.
Alternate Scenario: Upward penetration of 102.25 will call for 103.00.
NOTE: WTI is being capped by a strong horizontal resistant region.
Chart with supports & resistances:
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