WTI Crude Oil Mid-day Analysis 18 April 2016

Under Pressure

Our Pivot: 40.85

Our Preference: Short sell below 39.40 with strict stop loss of 40.85 and targeta t 38.15 and 37.67 and extension @ 37.15.

Alternate Scenario: Upward penetration of 40.85 will call for 42.40.

NOTE: Capped by a horizontal resistance.

Chart with Supports and Resistances: