Daily Forecast - 17 February 2016
WTI Crude March contract
WTI Crude first resistance at 2945/50 is the main challenge for bulls today. We could turn lower from here but a break above 2970 signals a move towards only minor resistance at 3025/30. If we continue higher look for 3060/65 then a selling opportunity again at 3145/50. Stop above 3195. An unexpected break above 3200 is a buy signal & targets 3245 then 3290.
Failure to beat first resistance at 2945/50 re-targets minor support at 2880/75. However further losses target minor support at 2820/10 then 2780/75 & 2725/20.
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