WTI crude oil: Buying opportunity at 39.55
|WTI Crude
WTI Crude December Future holding on to gains but only trading sideways all this week. We bottomed exactly at best support at 4120/4085.
Daily Analysis
WTI Crude strong support at 4140/20 & again at 4085/75 for today's scalping opportunities. A break lower targets 4010/00 then meets a buying opportunity at 3955/35, with stops below 3900. A break lower again sees 3935/55 working as resistance to target 3890/80, probably as far as 3845/35.
Longs the support levels target 4165/70, perhaps as far as 4200. On a break higher look for this week's high at 4240/45. A break higher again retests minor resistance at last week's high at 4290/4305.
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