Daily Forecast - 18 February 2016
WTI Crude March contract
WTI Crude selling opportunity at 3145/50 is working again as we top at 3172. First target is 3104/00 for some profit taking but below here look for support at 3050/40. This could hold the downside as we try to build a recovery but longs need stops below 3015. Further losses target the best support for today at 2950/40. Longs need stops below 2910.
Our shorts need stops above 3195. A break above 3200 is a buy signal & targets 3245 then longer term trend line resistance at 3300/3310. A good chance of a high for the day but further gains target 3360/70 then very strong resistance at 3440/50 for an excellent selling opportunity.
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