Daily Forecast - 05 April 2016

WTI Crude May contract

WTI Crude

WTI Crude lower again & holding below 3595/3585 for a sell signal. 3585/95 is now resistance as we look to target 3530/20 then 3490/85. If we continue lower look for support at 3410/00 which could hold the downside initially this week.

Strong resistance at 3595/3585 but a recovery above 3610 could signal a false break lower. Gains would then re-target 3660/70 & perhaps as far as minor resistance at 3710/15. We should struggle again today but further gains could target 3750/60. If we make it as far as strong resistance at 3815/25, exit any remaining longs & try shorts with stops above 3860.

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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