WTI Crude Oil Mid-day Analysis 04 January 2017

Under Pressure

Our Pivot: 53.57

Our Preference: Short sell below 53.00 with strict stop loss of 53.57 and target at 52.23  and 51.70.

Alternate Scenario: Upward penetration of 53.57 will call for 54.27.

NOTE: Capped by a negative trend line

Chart with Supports and Resistances: