WTI Crude May contract
WTI Crude beat 101.75/85 & ran in to our next resistance at 102.20/25. As predicted a high for the day was seen exactly here. Shorts here worked perfectly as prices then tumbled back to 101.40. Immediate support is 101.30/10 but below here keeps the market under pressure for a buying opportunity at 100.50/40. Exit shorts & try longs with stops below 9980, as we see a good chance of a low for the day.
Immediate resistance at 102.20/25 could hold a move higher again today. However shorts need stops above 102.50 for a move towards 102.80/90. If we continue higher look for strong resistance at 103.45/55.
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