Crude Oil WTI Futures levels are still relevant but if you find yourself with a profitable position I suggest you take it quickly! We topped exactly at strong resistance at 4100/20 last week. Obviously, bulls need a break above October’s high at 4147 for a breakout buy signal this week targeting 4200/20 and 4260/80.
Shorts at 4100/20 target strong support at 4030/10 (we bottomed exactly here on Friday). Longs need stops below 3985. A break lower targets minor support at 3910/00 which held the downside twice so far this week. A break lower this time targets 3860/40. On further losses look for 3770/60.
Trends
- Weekly Outlook Neutral
- Daily Outlook Neutral
- Short Term Outlook Neutral