Daily Forecast - 10 March 2016
WTI Crude April contract
WTI Crude first resistance at 2 day highs at 3840/50 but there is strong resistance longer term from 3875 up to November lows at 3899. We then run in to strong Fibonacci resistance again at 3960/65. Many challenges for bulls in severely on conditions. Only a close above 3900 would be more positive before the weekend.
Failure to beat 3840/50 targets 3740/35. If we continue lower look for minor support at 3665/60 but further losses test important short term trend line support at 3610/05.
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