Daily Forecast - 23 November 2015
WTI Crude January contract
WTI Crude January first resistance at 4240/45 but a break above 4270 signals further gains towards stronger resistance at 4310/20. This could hold a rally but if we continue higher look for last week's high at 4353 then the strongest resistance of the day at 4370/80.
Failure to beat first resistance at 4240/45 targets 4199/95 then 4165/60. If we continue lower look for a retest of last week's low at 4125/20. A break lower not out of the question in the negative trend despite oversold conditions & targets 4110 then 4060/50. Further losses target 4010/06, 3990/85 then 3905/3895. If we continue lower look for 3855/50 then 3816 & August lows at 3775.
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