Daily Forecast - 04 February 2014
WTI Crude March contract
WTI Crude recovered to 9780 & topped almost exactly here as predicted. We are now sitting below 9690/80 & could retest our target of 9635/30 which in fact held the downside perfectly yesterday. A break lower is possible today & could test good support at 9580. A low for the day could be seen but below here we could test 9521 lows last week then good support at 9500/9490.
Immediate resistance at 9685/90 but above here a short term trend line at 9725 could hold a move higher. However above here look for a selling opportunity at 9790/9800.
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