WTI Crude Oil: a break above 6000 takes us towards a selling opportunity
|WTI Crude January Futures
WTI Crude bounce just 12 ticks below minor support at 5875/65 keeping bulls in control of the 2 month recovery.
Daily Analysis
WTI Crude holding minor support at 5875/65 re-targets 5915/25 before a retest of 5975/85. A break above 6000 takes us towards a selling opportunity at 6080/6100, with stops above 6140.
Below 5875/65 targets 5810/00 but try longs at 5785/75 with stops below 5750. A break lower is a sell signal targeting 5700/5690, perhaps as far as 5655/45.
Trends
Weekly outlook is neutral
Daily outlook is positive
Short Term outlook is positive
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