Daily Forecast - 04 March 2016
WTI CrudeApril contract
WTI Crude first support at 3425/20 but below here a buying opportunity at 3365/60. Just be aware that there is also quite good short term support at 3330/20. Failure here however targets trend line support at 3275/70.
We have traded mostly sideways over the last 3 days as we struggle with overbought conditions. February highs at 3503/08 then 2 day highs at 3517/32. A break above could make it as far as 3580/90 today. If we continue higher look for late January highs at 3628.
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