Technical forecast for WTI Crude

wti

WTI Crude hit our target of 93.72 on Friday ‘where there is a good chance of a high today. We topped just above at 93.84.

We are testing support at 92.12. Watch for a break below 92.00 to lead us lower again towards 91.58/40 with a low for the day possible as this is strong support. Longs will need a stop below 91.05.

Resistance at 92.68/78 could hold a bounce from 91.12. If trying shorts here we need a stop above 93.00 for a move towards 93.31.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More