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WTI Light Crude: Forecast February 13

Published 02/13/2013, 06:56 AM
Updated 07/09/2023, 06:31 AM
WTI Light Crude
WTI Crude Oil caught us out with a break above 96.90/97.10 resistance. We reached the next target of 97.50 and are pushing on for a retest of 98.15/25 highs. Here we should top out with over bought indicators flashing in the short term & a bearish divergence on the daily chart. However we need to keep stops tight above 98.50 for continued strength up to 99.52.

Support today at 97.12 may hold a slide but below here look for 96.71. Try longs with a stop below 96.35 & look to buy in to longs again at 96.05.

Latest comments

Hi Jason, Ive been reading your analysis regularly. I must say that the support levels indicated by you were right on the money. Excellent jon jason. Hoping to see your analysis published regularly , helping traders like us get a view on the market. Thank you
Raj, it is very kind of you to take the time to give me your feedback. it is important to me to know I am helping! many thanks.
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