Daily Forecast - 15 October 2015
WTI Crude November contract
WTI Crude holding below 4665/55 re-targets support at 4590/85 which is now the most important of the day & key to future direction. It could be worth trying longs with stops below 4555 but we must be ready to sell a break below here to target minor support at 4490/85. If we continue lower look for a test of October lows & strong support at 4400/95.
Only above 4665 is less negative for today & targets 4690 of course. A break above is more positive & targets 4740/45, perhaps as far as strong resistance at 4825/30. Shorts need stops above 4860. A break higher could then target strong resistance at 4925/30.
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