WTI Crude Oil Mid-day Analysis 27 October 2016

Under Pressure

Our Pivot: 50.30

Our Preference: Short sell below 49.50 with strict stop loss of 50.30 and target at 48.30 and 47.62.

Alternate Scenario: Upward penetration of 50.30 will call for 51.00.

NOTE: Capped by a negative trend line

Chart with Supports and Resistances: