Technical forecast for WTI Crude

WTI Crude unexpectedly tore higher again to reach 108.43. If we can hold above 108.25/00 we may now see 109.00/10 then 109.80/95 before a test of 2012 highs at 110.55.

Support at 107.50/45 but below here could reach 106.85/65. Look for a low for the day here but longs need stops below 106.15.

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