WTI Crude Oil Intra-day Analysis 9th Dec. 2020

Under Pressure

Our Pivot: 46.10

Our Preference: Short sell below 45.75 with strict stop loss of 46.10 and profit target at 45.00 with extension towards 44.80 and 44.60.

Alternate Scenario: Upward penetration of 46.10 will call for 46.50 and 46.80.

NOTE: WTI is moving downward for correction after facing rejection from a major resistant trend line on daily chart.

Chart with supports & resistances: