Crude Oil WTI holding strong support at 4730/20 triggered a bounce to 4790/99 as predicted & we topped exactly here. A break higher is more likely today & targets 4825 then 4850/60 before strong resistance at 4880/90. Try shorts with stops above 4920.
Failure to beat 4785/95 risks a retest of strong support at 4730/20 of course. This is the best chance of another low for the day as we become oversold. Try longs with stops below 4685. Because this is important support, a break lower is a sell signal. Be ready to reverse in to a short on a break below 4685 targeting 4650/45 & 4625/20. (These are only targets, not supports). On further losses look for 4595/85 & 4555, before support at 4535/25 for profit taking on all remaining shorts.