Daily Forecast - 14 January 2014
WTI Crude February contract
WTI Crude dipped to retest support at 9135/25 for a second buying opportunity & held just above. Now oversold on daily & short term charts it looks more likely we can return to 9225/35 & possibly as far as 9335/45. Watch for a high for the day here again today but be ready to go with a break above 9375 for 9420/25. Above here strong resistance at 9475/85 should hold a move higher at this stage.
Failure to beat 9200 could lead to a retest of strong support at 9135/25 for a second buying opportunity with stops below 9100. However be ready to go with a break lower for 9065 then 9010/00.
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